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MADRID, 5 Jun. (EUROPA PRESS) -
Growth in private sector activity in the euro zone moderated in May to three-month lows, according to the Purchasing Managers Composite Index (PMI), which fell to 52.8 from 54.1 the previous month. According to the survey carried out by S.
Among the countries analysed, Spain registered a reading of 55.2 points, at a minimum of four months, ahead of Germany, with 53.9 integers; Italy, with 52 points; and from France, with 51.2.
The expansion of business activity in the euro zone in May reflected the growth of the services sector, whose PMI index moderated to 55.1 points from 56.2 in April, while the manufacturing PMI worsened to 36-month lows , with a reading of 44.8 points, compared to 45.8 the previous month.
"The service sector is being supported by a strong job market, rising wages and a booming tourism sector across Europe," according to Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
On the other hand, the economist warns that the PMI price data "are not very reassuring from the perspective of monetary policy", since, although sales prices decreased for the first time since September 2020, the companies surveyed The services sector were able to increase prices more than in the previous month, which could indicate that the recent correction of inflation in France, Spain and Germany "may not continue at this pace in the coming months".
