EMU: Flash PMI Manufacturing surprises to the upside in May

FXstreet.com (Barcelona) - Preliminary Eurozone PMI Manufacturing contraction slowed down to 47.8 points in May, from 46.7 points in April, according to data released today by Markit. Analysts expected less increase to 47 points.

PMI Services grew to 47.5 points in May, following a 47.0 point reading the previous month and above projections of a rise to 47.2 points.

Composite PMI climbed to 47.7 points from 46.9 points, also exceeding expectations of a rise to 47.2 points.