Final May Services PMI readings from Germany, France, Italy, and Spain missed expectations, but remained in expansionary territory. Meanwhile, eurozone’s PPI was cooler than expected in the April reading.
Eurozone’s April PPI -3.2% m/m (expected -3.1%; last -1.3%); 1.0% yr/yr (expected 5.9%; last 5.5%).
May Services PMI 55.1 (expected 55.9; last 56.2).
Germany’s May Services PMI 57.2 (expected 57.8; last 56.0)
U.K.’s May Services PMI 55.2 (expected 55.1; last 55.9)
France’s May Services PMI 52.5 (expected 52.8; last 54.6)
Italy’s May Services PMI 54.0 (expected 56.5; last 57.6)
Spain’s May Services PMI 56.7 (expected 59.9; last 57.9)