Reported 5 months ago
Euro-area private-sector business activity reached its highest level in a year, indicating a robust economic recovery in the region. The S&P Global purchasing managers' index rose to 52.3 in May, surpassing analyst expectations and signaling growth for the third consecutive month. This positive development was attributed to strong new orders, steady hiring, and growing confidence among companies. Additionally, Germany's PMI reading exceeded expectations, while France experienced a contraction in its services sector. The outlook for the euro zone is optimistic, with expectations of inflation nearing the 2% target, the European Commission forecasting a soft landing, and the ECB preparing to lower interest rates.
Source: YAHOO