Eurozone | PMIs suggest a moderation in growth in 2Q16

Summary

The slight worsening of composite PMI in May reflects a fall in confidence in the industrial sector, which continues to suffer due to the weakness of global demand and the uncertainty in Europe, while services expectations remain stable. Overall, today’s data point to the expected moderation of GDP growth in 2Q16 to rates of around 0.3% QoQ.

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