Eurozone May final PMI falls to 52.8 vs flash 53.3

Eurozone services activity fell in May, according to final survey readings released on Monday.

The final S&P Global composite purchasing managers’ Index (PMI) fell to 52.8 in May from April’s 54.1, above the 50 mark separating growth from contraction, but lower than a flash estimate of 53.3.

A PMI covering the services sector dropped to 55.1 from April’s one-year high of 56.2, below the 55.9 flash reading. Weaker-than-expected PMI readouts from Italy and Spain, combined with downward revisions to the French and German PMIs, pulled the overall number lower.

Reporting by Frank Prenesti for Sharecast.com