The eurozone manufacturing sector purchasing managers' index fell to a seasonally adjusted 46.8 in May from 47.8 in April, according to market sources. The decline was unexpected. Economists polled by AFX had forecast a rise to 48.3 in May.
A reading above 50 indicates that the manufacturing sector is generally expanding, while a reading below 50 suggests that it is generally contracting. The index is based on a questionnaire sent to purchasing executives in over 1,500 companies. //www.fxcentre.com