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Flash PMI drops to 3-month low: accelerating downtrend in industry outweighs growth in the service sector
Eurozone private sector expanded for the fifth consecutive month in May, remaining up in the second quarter of 2023 robust growth course. That's according to the latest S&P HCOB Flash Eurozone Composite PMI survey. that the growth rate compared to April was due to the fact that incoming orders almost stagnated and the upswing was increasingly uneven. The strong growth in the service sector contrasted with a accelerated decline in industrial production, which in turn reflects the increasing divergence in demand for goods and services. Inflation trends also diverged across sectors. The surge in demand after the ... (full story)