EU S&P Global Composite PMI Flash (May) 47.5 vs. Exp. 48.8 (Prev. 48.8, Low. 47.5, High. 49.5)

"...data show the eurozone economy taking an increasingly severe toll from the war in the Middle East." "The survey data indicate that the euro area economy looks set to contract by 0.2% in the second quarter." "Job losses are also starting to become worryingly widespread..." “The rise in the survey’s price gauges already hints at inflation running close to 4% in the coming months which, combined with the growing signs of the region slipping into an economic downturn, creates a deepening dilemma for policymakers"