The euro area private sector logged back-to-back contractions in May, marking its biggest fall in 18 months, final survey data from S&P Global showed Wednesday.
The final composite output index dropped to 48.5 in May from 48.8 in April. A score below the threshold 50.0 indicates contraction. However, the score was above the flash estimate of 47.5. Overall activity levels in the private sector were pulled lower by services, as manufacturing production rose further. The services Purchasing Managers' Index posted 47.7, slightly up from 47.6 a month ago. The flash reading was 46.4.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.