Share This On Social

Industry and services sector in the Eurozone continue to expand at the fastest pace in six years, driven by the largest economies in the currency union – Germany and France. The Purchasing Managers’ Index (PMI) remained at 56.8 points in May, as it was in April, confirms the second reading of the data. The separate measure of services is slightly down on the first estimates and the industry index remains unchanged.

Final reading of data is another proof that the Еурозоне enjoys a strong second quarter. Тhe economic growth is 0.7%.

The European Central Bank (ECB) is likely to take a more optimistic stance at its meeting on Thursday.

Separate reports on Italy and Spain, the third and fourth biggest economies in the Eurozone, show that there is still inertia. Italy’s strong business activity and orders are reported, and Italy’s employment growth.

Costs and sales prices show a slight weakness in May, but remain at a level close to the peak reached earlier this year.