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20th May 2026 10:14EurozoneDaily Monitor
  • EZ PMIs sank further in May, adding to the evidence that the economy is stuck in a stagflationary hole.
  • The ECB will focus on soaring input and output price indices, but the PMIs are warning not to over-tighten.
  • Relative weakness in French PMIs likely reflects the lack of fiscal space to lean against soaring inflation. 

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Keywords for: 22 May 2026 Eurozone Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence