Key facts
- Eurozone manufacturing growth slowed in May.
- Demand for goods stagnated.
- Input costs reached their highest level in four years.
- The S&P Global Eurozone Manufacturing PMI fell to 51.6 in May from 52.2 in April.
The slowdown in Eurozone manufacturing growth, coupled with rising input costs due to supply-chain disruptions, indicates persistent inflationary pressures within the bloc. This data point, alongside elevated consumer inflation expectations, will be closely monitored by the European Central Bank as it considers its monetary policy stance.