Eurozone Manufacturing Growth Slows

A survey shows that growth in the eurozone’s manufacturing sector slowed during May, as the zone’s weaker economies continued to struggle. The Markit purchasing managers’ index (PMI) for eurozone manufacturers fell to 54.6 from 58 in April.

The manufacturing sectors in Greece and Spain contracted, while Italy and the Irish Republic slowed sharply. France and Germany, key drivers of eurozone growth, also saw a slowdown. In Germany, the PMI reading fell to 57.7 from April’s figure of 62, but the sector remained strong. ◆