German S&P Global Services PMI Final (May) 48.1 vs. Exp. 47.8 (Prev. 46.9)

"Services firms reported much greater optimism about the outlook than a month ago, perhaps reflecting increased hopes of an end to the Middle East conflict as well as support to the economy from government policies." "Inflationary pressures in the service sector remain elevated, but they have at least steadied." "Services firms found it more difficult to raise prices in May amid reports of some pushback from clients"