Eurozone May Manufacturing PMI at 47.4... Exceeds Expectations

The Eurozone's manufacturing Purchasing Managers' Index (PMI) for May recorded 47.4.

[Image source=EPA Yonhap News]

According to S&P Global on the 23rd (local time), the May Eurozone manufacturing PMI exceeded the previously announced forecast (46.2). It also rose compared to the previous month's figure (45.7).

However, it still remained below 50, which is the threshold for judging economic expansion or contraction. A PMI below 50 indicates a contraction in business conditions.