Business activity in the euro zone declined in May from April, marking a
two-month low, said data firm Markit on Thursday. The "flash" euro-zone
PMI composite output index was at 53.9 in May, down from 54.0 in April.
Analysts had expected a reading of 53.8, according to a consensus
estimate compiled by FactSet. The manufacuturing PMI hit a six-month low
of 52.5 down from 53.4 in April. Although the reading for May's
composite index pulled lower, the euro-zone PMI remains on track for its
best quarter in three years, said Markit. The euro
EURUSD
-0.17%
fell against the dollar following the report, trading at $1.3675
compared with $1.3683 before the data were released.
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