Britain's manufacturing activity accelerated in May, with production volumes expanding at the fastest rate in three months amid persistent macroeconomic headwinds, including rising prices and supply chain pressures.
The final S&P Global UK Manufacturing PMI stood at 53.9 in May, against the prior month's 53.7, S&P Global said Monday. The reading marks a four-year high and the seventh consecutive month of sector growth.
The median rate of perceived inflation by euro area consumers for the year ahead was stable month over month in April, according to a European Central Bank survey published Monday.The latest monthly ECB Consumer Expectations Survey showed that median expectations for inflation in the next 12 months remained at 4%. The estimate for the next three years fell to 2.9% from 3%, while the expectation for five years ahead held steady at 2.4%.Meanwhile, the uncertainty about inflation expectations for the next 12 months was still at an elevated level.The ECB continued to see lower inflation expectations among younger survey respondents aged between 18 and 34 years, compared with those aged 35 to 54 and 55 to 70.
The eurozone's manufacturing activity decelerated in May, as demand for eurozone goods stalled amid rising prices.The final S&P Global Eurozone Manufacturing PMI fell to 51.6 from 52.2 a month ago, according to data from S&P Global published Monday. The reading, which marks a two-month low, is above the flash estimate of 51.4.
The euro area's adjusted loans to nonfinancial corporations increased 3.4% year over year in April, following a 3.2% rise a month ago, according to data from the European Central Bank published Monday.The consensus estimate for the month was a 3.1% gain.Meanwhile, the growth rate for adjusted loans to households stood at 3%, matching the previous reading and consensus expectations.