Markit Economics released its preliminary manufacturing purchasing managers' index (PMI) for the Eurozone on Thursday. Eurozone's preliminary manufacturing PMI increased to 52.3 in May from 52.0 in April. Analysts had expected index to remain unchanged at 52.0.
Eurozone's preliminary services PMI declined to 53.3 in May from 54.1 in April. Analysts had expected the index to fall to 53.9.
Markit's Chief Economist Chris Williamson said that Eurozone's economy is expected to grow around 2.0% this year. He added that it would be the best performance since 2010.
Germany's preliminary manufacturing PMI fell to 51.4 in May from 52.1 in April, missing forecasts of an increase to 52.3.
Germany's preliminary services PMI decreased to 52.9 in May from 54.0 in April, missing expectations for a fall to 53.9.
Markit's economist Oliver Kolodseike noted that it seems that the growth of German economy will remain sluggish in the coming months.
France's preliminary manufacturing PMI rose to 49.3 in May from 48.0 in April, beating forecasts of a rise to 48.5.
France's preliminary services PMI increased to 51.6 in May from 51.4 in April, missing expectations for a gain to 51.9.
The Senior Economist at Markit Jack Kennedy said that the French economy is expected to expand in the second quarter.