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.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com