Eurozone private sector grows in spite of US tariffs — Bloomberg

According to Bloomberg data, the eurozone's private sector remained above the 50-point threshold, demonstrating greater resilience to the negative impact of Donald Trump's trade policies than previously anticipated.

Yesterday's data from the news agency showed that the S&P Global Composite PMI index declined to 50.2 in May from 50.4 in April. This result differed from analysts' preliminary estimate of 49.5.

Cyrus de la Rubia, an economist at Hamburg Commercial Bank, stated that the current slowdown in the index's growth is linked to a slight decline in service sector activity. Meanwhile, the manufacturing sector maintained moderate growth, similar to the previous month.

Experts at the International Monetary Fund consider the expansion of the eurozone’s economy by more than 1% improbable. Such modest prospects may force the ECB's to continue lowering interest rates. The central bank is widely expected to ease monetary policy for the eighth time in the current cycle on Thursday, reducing the deposit rate to 2%.