The eurozone manufacturing downturn eased for the first time in four months in May. Moreover, all subindices from the latest survey improved on the earlier flash estimates except suppliers’ delivery times. At a 15-month high of 48.3 in May, up from April’s four-month low of 46.7, the seasonally adjusted Markit Eurozone Manufacturing PMI® indicated the slowest pace of contraction since February 2012. Business conditions still deteriorated overall, however, with the current downturn extended to a twenty-second month. PMIs for all of the nations covered by the survey signalled weaker rates of contraction in May. The ... (full story)