Eurozone Preliminary Manufacturing PMI improves to 47.4 in May vs. 46.2 expected

• Eurozone Manufacturing PMI rose to 47.4 in May, beating 46.2 forecast.
• Bloc’s Services PMI steadied at 53.3 in May vs. 53.5 estimate.
• EUR/USD holds the rebound near 1.0830 after German, Eurozone PMI data.

The Eurozone manufacturing sector downturn eased while the services sector activity steadied in May, according to the data from the HCOB's latest purchasing managers index survey published on Thursday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) improved from 45.7 in April to 47.4 in May, bettering the market expectations of 46.2.

more to come ...