Weekly Economic and Financial Commentary – May 25, 2020
Following the gradual reopening of some parts of the economy in the Eurozone and US, Purchasing Managers’ Index (PMI) data for May released last week showed the rate of decline eased in both countries in May relative to April.
The Eurozone and US composite PMI remained in contraction to print at 30.5 (13.6 in April) and 36.4 (27.0 in April) respectively. The Eurozone services PMI rose to a 3-month high of 28.7 (12.0 in April), while the US services number rose to a 2-month high of 36.9 (26.7 in April).
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