Pantheon Macroeconomics

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23rd May 2023 15:02Eurozone, Daily Monitor

  • The EZ composite PMI fell in May, matching leading indicators, but still points to solid growth in Q2...
  • ...It likely overstates the pace of GDP growth; the carry-over for hard data in Q2 looks difficult.
  • We think a robust services PMI is capturing solid nominal activity, overstating the pace of real growth.

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Keywords for: 24 May 2023 Eurozone Monitor

composite pmi, eurozone, ez, gdp, growth, May, pmi, pmis, q2, q2 pmis, services pmi, Pantheon Macro, Pantheon Macroeconomics, independent macro research, independent research, ian shepherdson, economic intelligence