MW: Euro-zone manufacturing PMI at three-month low
By Steve Goldstein
LONDON (MarketWatch) -- The flash Markit euro-zone manufacturing purchasing managers index fell to a three-month low of 55.9 in May from 57.6 in April, while the flash euro-zone services PMI rose to a 33-month high of 56.0 in May from 55.6 in April. The manufacturing PMI came in below the 57.5 consensus while the services PMI was above the 55.5 consensus. "Although remaining consistent with GDP rising at a quarterly rate of 0.5%-0.6%, worrying signs of weakness have appeared," said Chris Williamson, chief economist at Markit. "Of greatest concern, manufacturing saw the steepest slowdown in growth since the collapse of Lehmans, linked in part to uncertainty in domestic markets as the debt crisis grabbed headlines."
