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.
Australia's first-quarter national accounts show that growth over the course of 2026 will be at a soft pace, according to a Wednesday report by ANZ.ANZ noted that household consumption rose 0.5%, showing a rise in essential spending. Discretionary consumer spending was weak, rising just 0.1%, while real household income growth is moderating rapidly. Also, real per capita household incomes fell 0.7% after a rise of 0.9% in the fourth quarter of 2025 and are now just 0.3% higher over the year, the bank added.The bank expects a further softening in real income growth over the year.ANZ said that much of the strength in private demand reflected the shift from public to private spending as energy subsidies came to an end, and strong growth in data-center-related investment, which is offset by higher imports.The strength in private demand does not suggest that interest rates may "need to go higher," ANZ added.