(Reuters) - Stock index futures fell on Friday, indicating further losses for the S&P 500 after it suffered its worst monthly slump since September, as weak Chinese factory data heightened fears of a slowing global economy ahead of a key jobs report. China's economy showed signs of a broadening slowdown as its official purchasing managers' index fell to 50.4 in May from April's 13-month high of 53.3, signaling a deeper-than-forecast deterioration in demand at home and abroad. "The China data is certainly what is pushing things around right now, and that is echoing what is going on in broader Europe as Europe is a very large trading partner of China," said Keith Bliss, senior vice-president at Cuttone & Co in New York. In Europe, Markit's Eurozone Manufacturing Purchasing Managers' Index dropped to 45.1 in May from 45.9 in April. Eyes will be focused on the May employment report at 8:30 a.m EDT (1230 GMT) for signs the domestic labor market has regained traction. Economists in a Reuters survey forecast 150,000 jobs were created in May compared with 115,000 in April. Also at 8:30 a.m. (1230 GMT), the Commerce Department releases April personal income and consumption data. Economists in a Reuters survey expect a 0.3 percent rise month over month in both April income and spending. "The economic data this week, I would term that an epic fail and we've got four important numbers that are coming out today. If those things show any sign of weakness, the futures levels right now on the S&P will look like a holiday compared to what we will experience for the day," said Bliss. Investor concern has been rising about the stability of Spain's banking system and the euro zone as a whole, at the same time data has shown tepid economic growth. The worries sent the benchmark S&P 500 index .SPX down 6.3 percent in May and investors fleeing to safe-haven government securities. The dollar index .DXY hit its highest level since August 2010 against a basket of major currencies, and the German 2-year bond yield fell below zero for the first time. European shares fell to a fresh five-month low on growing signs that the debt crises in Spain and Greece were hurting the region's biggest economies. The FTSEurofirst 300 index .FTEU3 was down 1.5 percent. .EU Spain's government has delayed by at least a week the adoption of a new mechanism to ease the funding problems of its heavily indebted regions, a government source said. S&P 500 futures fell 15.4 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 106 points, and Nasdaq 100 futures lost 25.5 points. Ireland's government declared victory in a referendum on Europe's new fiscal treaty, but Greek polls for upcoming elections there showed conflicting results. Data at 10 a.m. (1400 GMT) include the Institute for Supply Management's May manufacturing index and April construction spending from the Commerce Department. Economists in a Reuters survey expect an ISM reading of 53.9 versus 54.8 in April while construction spending is expected to show a rise of 0.4 percent compared with a 0.1 percent rise in March. Google Inc (GOOG.O) accused Microsoft Corp (MSFT.O) and Nokia (NOK1V.HE)(NOK.N) of conspiring to use their patents against smartphone industry rivals and said it filed a formal complaint with the European Commission. (Reporting By Chuck Mikolajczak; Editing by Padraic Cassidy, Dave Zimmerman)

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