- The Eurozone manufacturing PMI rose to 47.4 in May, beating the forecast of 46.2.
- The bloc's services PMI stabilized at 53.3 in May, versus the estimate of 53.5.
- EUR/USD holds near 1.0830 following German and Eurozone PMI data.
The slowdown in the Eurozone manufacturing sector eased, while service sector activity stabilized in May, according to data from the latest HCOB Purchasing Managers' Index survey published on Thursday.
The Purchasing Managers' Index (PMI) for the Eurozone manufacturing sector improved from 45.7 in April to 47.4 in May, exceeding market expectations, which placed it at 46.2 points. The index hit its highest level in 15 months.
The services PMI remained at 53.3 points. The data was below the estimate of 53.5.
He PMI index Eurozone composite rose to 52.3 in May, compared to the expected 52.0 and 51.7 in April. The index hit a 12-month high.
EUR/USD Reaction to Eurozone PMI Data
He EUR/USD keeps its recovery momentum intact near 1.0830 despite mixed Eurozone PMI data. At press time, the pair was up 0.11%.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
