Possible Democratic presidential candidate describes war as historic ‘American national security mess’

Prior 47.6 Composite PMI 48.5 vs 47.5 prelim Prior 48.8 Despite the troubles in France, the overall Eurozone services economy managed to hold up in May. However, private sector business activity as a whole fell to an 18-month low and marked back-to-back months of contraction for the first time since the end of 2024. Looking to…

Prior 46.9 Final Composite PMI 48.8 vs 48.6 prelim Prior 48.4 Key findings: Service sector remains in contraction in May, but expectations rebound Business activity falls for second month running, albeit at a slower pace Expectations for activity in the next 12 months rebound from April's low Output price inflation eases despite persistent…

Services PMI 44.3 vs 42.9 prelim Prior 46.5 Composite PMI 44.9 vs 43.5 prelim Prior 47.6 Even with an improvement to the initial estimates, this is still a very poor reading for French services activity. Of note, both activity and new business levels decreased at their steepest rates in five-and-a-half years with employment conditions also deteriorating…

Prior 49.8 Composite PMI 50.4 vs 50.5 prior Key findings: Italian service providers face strongest cost pressures since start of 2023 Business activity falls for third month running New business back in contraction Rate of cost inflation hits 40-month high Comment: Eleanor Dennison, Economist at S&P Global Market Intelligence: "The Italian…

The European Parliament committee just voted in favour of the legislation to remove duties on many US goods and imports, essentially steering clear of another clash with the US on trade - such as the one last year. As a reminder, US president Trump set a deadline of 4 July for the EU to sort…

The Bank of Japan's latest Summary of Opinions from meetings with market participants revealed differing views on the future pace of Japanese government bond (JGB) purchase reductions, highlighting the difficult balancing act the BoJ faces as bond yields continue to climb. Several participants argued that the need for additional tapering remains limited. One participant stated…

Prime minister failed to follow through on threat to bomb Hizbollah following pressure from US president

Manufacturing PMI 51.6 vs 51.4 prelim Prior 52.2 Euro area manufacturing activity slows down in May as the stockpiling surge from April begins to fade. The headline manufacturing index is a two-month low with the output index dropping to a four-month low in May. That comes as demand conditions take a hit amid rising price…

Prior was 51.4 Key findings: Manufacturing sector stalls amid waning demand and soaring costs New orders fall for first time in 2026 so far, weighing on output growth Job cuts deepen as cost pressures reach highest since June 2022 Comment: Phil Smith, Economics Associate Director at S&P Global Market Intelligence: "The…