The Eurozone manufacturing sector downturn deepened during May, as steep drops in output and new orders led to further job losses. The seasonally adjusted Markit Eurozone Manufacturing PMI® fell to a near three-year low of 45.1 in May, down from 45.9 in April and little-changed from the earlier flash estimate of 45.0. The PMI has signalled contraction in each of the past ten months. Ireland was the only nation to signal an expansion of even modest note in May, as the Austrian PMI slipped closer to stagnation and all the other nations covered by the survey saw contractions. PMIs for Germany, France and Spain all fell ... (full story)