Reported 5 months ago
German private-sector activity in May 2024 rose to a one-year high with S&P Global's purchasing managers' index for the country hitting 52.2, exceeding analyst predictions and staying above the growth threshold of 50 for a second consecutive month. While services led the growth, the manufacturing sector, although still in contraction, showed signs of improvement. In contrast, France experienced a decrease in its composite gauge, falling below 50, dragged down by services. The euro zone's top economies performed better than expected in Q1 2024, potentially lifting the bloc out of the recession experienced in the previous year, with analysts anticipating an interest rate reduction by the European Central Bank to support recovery later in the year.
Source: YAHOO