German manufacturing sector conditions were virtually stagnant in May as uncertainty and cost pressures linked to the war in the Middle East led to the first decline in new orders in 2026, while output growth softened for the second straight month, S&P Global said Monday.
The final headline S&P Global Germany manufacturing PMI slipped to a four-month low of 50.1, close to the 50-point no-change mark, from 51.4 in April. The flash estimate for May stood at 49.9.
The euro area's M3 money supply rose 2.7% year over year in April, following a 3.2% increase in March, the European Central Bank said Monday.Analysts expected a 3.3% growth for the month.
France's manufacturing sector activity slipped into contraction territory in May, amid renewed downturns in output and new business as the temporary boost from client restocking faded, S&P Global data showed Monday.The final S&P Global France Manufacturing PMI fell to 49.7 from 52.8 a month ago, against the flash estimate of 48.9, and reversing the start of the quarter's four-year high. The index fell below 50 for the first time since November 2025.
Operating conditions in Italy's manufacturing sector improved the most in May in just over four years as demand recovery due to safety stockpiling led to a pickup in new orders and faster output expansion, S&P Global said Monday.The S&P Global Italy manufacturing PMI rose to 52.9, the highest since April 2022, from 52.1 in April 2026. The consensus estimate for the month was 52.