Economic Buzz: Eurozone private sector PMI slips yet again

Eurozone Composite PMI slipped to 47.5 in May from 48.8 in April and stayed below the 50.0 no-change mark for the second successive month. The latest reading signalled a further and steeper m/m reduction in business activity, was the sharpest since October 2023. The economy is taking an increasingly severe toll from the war in the Middle East, with this survey data indicating that a GDP fall of 0.2% this quarter. The PMI has now dipped to the lowest reading since 2023.

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