Mumbai, June 3 -- Private sector activity in the eurozone fell at the sharpest pace in 18 months during May, according to S&P Global PMI data. The Composite PMI Output Index slipped further into contraction, easing from 48.8 in April to 48.5, marking back-to-back declines for the first time since late 2024.
The downturn was driven mainly by services, with the Eurozone Services PMI Business Activity Index posting 47.7 in May, up slightly from April's 47.6 but still below the 50.0 threshold that signals growth. This marked the third consecutive month of falling demand for services. Manufacturing output rose modestly, but not enough to offset the services weakness.
Germany and France led the contraction, while Italy and Spain managed margina...