France's private sector business activity dropped in May 2026 at the fastest pace since January 2024, as total new business intakes declined sharply amid growing price pressures due to the war in the Middle East, final data from S&P Global confirmed Wednesday.
The S&P Global France Composite PMI Output Index dropped to a 28-month low of 44.9 in May from 47.6 in April, against the flash figure of 43.5.
The services PMI decreased to 44.3 from 46.5 earlier. The preliminary estimate was 42.9.
Italy's private sector expansion marginally slowed in May, as faster growth in manufacturing production helped offset a sharper decline in service sector activity.The S&P Global Italy Composite PMI Output Index stood at 50.4 in May, down from 50.5 in April, S&P Global said Wednesday.On the services side, the PMI was 49.4, compared with the previous 49.8 and expected 49.2, according to Investing.com data.
Spain's private sector activity returned to expansion territory in May, reflecting a marginal rise in production and stabilizing service sector activity despite persistent "acute" cost headwinds.The S&P Global Spain Composite PMI rose to 50.2 from 48.7 in April, S&P Global said Wednesday.For the service sector, the PMI came in at 50.1, against the previous 47.9 and the consensus estimate of 48.2, according to Investing.com data.
Sentiment in the German automotive sector "improved somewhat" in May, albeit still in the negative territory amid a sustained macroeconomic uncertainty, the ifo Institute said Wednesday.The ifo Business Climate Index for the sector climbed to -20.8 points in May from -23.5 points in April, as companies reported slightly better current conditions and adopted a "less pessimistic" outlook.Meanwhile, export expectations fell sharply to -16.4 points from 11.7 points in the previous month on the renewed tariff threats from the US at the beginning of May. Ifo industry expert Anita Wölfl noted the remaining 15% US levy on European cars and parts still poses a noticeable challenge for German automakers.