Eurozone Services PMI Rises to 47.7 in May as Employment Falls for First Time Since 2021

3 articles · Updated · TradingView · Jun 4

47.7 was the final May reading for the S&P Global Eurozone Services PMI, up from April’s 47.6 and sharply above the 46.4 flash estimate, though it still signaled contraction.
New business kept shrinking as households and clients faced weaker purchasing power after the Middle East war drove energy costs higher.
Input costs rose sharply, but firms lifted output prices more slowly and drew down backlogs to cushion the decline in activity.
Employment in eurozone services fell for the first time since January 2021 as weaker demand reduced capacity needs, while business confidence improved slightly but stayed below historical norms.

Sources

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