AI Data Insight
The preliminary Eurozone Manufacturing PMI for the second quarter of 2026 (May) dropped to 51.4 from 52.2 in the previous month, falling short of the market consensus expectation of 51.8. The data indicates that the wave of precautionary hoarding triggered by Middle East geopolitics has faded, leading to a decrease in new orders. Coupled with a sharp rise in input costs, this may add uncertainty to the European Central Bank's easing path.