Reported 4 months ago
Business activity in the Euro zone expanded at its quickest rate in a year in May, with the services sector leading the growth while manufacturing contracted, according to the Purchasing Managers' Index (PMI) by S&P Global. The composite PMI rose to 52.2 in May, its highest since May 2023, indicating positive growth in the Euro zone for the third consecutive month. Optimism about the future led to an increase in hiring by services firms, although price pressures eased slightly. The positive outlook is expected to support economic growth in the second quarter.
Source: YAHOO