The Eurozone Preliminary Manufacturing PMI for the month of May it has decreased by one tenth, standing at 62.8 compared to 62.9 in April, but improving the 62.5 expected by the market. In any case, the May reading is the second best in the historical series.
The services PMI has risen more than four points, standing at 55.1 compared to the previous 50.0, improving the 52.3 forecast. This is the best reading seen since June 2018.
According to the statement of IHS Markit, the Eurozone economy revives due to the fact that demand has increased at the fastest rate in 15 years: “Eurozone business activity grew at a much faster rate in May as economies continued to open up on virus restrictions. expansion rate reached the highest level in more than three yearsas new order inflows increased to a degree that had not been seen in nearly 15 years. Business optimism about next year continued to break new highs, but price indicators rose further, hitting all-time highs in manufacturing as demand continued to outpace supply of many goods and services. “
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