Forex News – Euro zone PMI better than forecast

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A series of final purchasing managers index data for the month of May were released for the euro zone as well as for each individual member country.

Most figures were better than expected but the single currency remains weak and showed little reaction to the economic data because the fiscal problems in Spain and Greece are overshadowing all other issues and driving market sentiment down, along with the euro.

 

 

Below are the data: Italian, French, German, and Euro zone PMIs came out marginally above forecast.

 

Italy PMI (May)

45.4

43.5

43.8

France PMI (May)

44.7

44.4

44.4

Germany PMI (May)

45.2

45.0

45.0

Euro zone PMI (May)

45.1

45.0

45.0