The purchasing managers' index (PMI), a first measure of economic recovery, was still well below 50 points in many eurozone countries in May, implying a contraction in activity. This is evident from the various PMI numbers that became known on Monday.
In Germany, the PMI fell to 36.6 points in May, while in France this number increased by 0.3 points to 40.6 points. The increase was stronger last month in Spain and Italy. The PMI in Spain rose from 30.8 in April to 38.3 points, that of Italy from 31.1 points to 45.4 points.
The index number also rose in Poland and the Czech Republic, but also remained below 50 points here, so that there is no growth yet. In Turkey, the resumption of car production caused slightly more activity, bringing the PMI to 40.9 points.