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Analysts at Nomura expect the euro area composite PMI for May to climb to 55.3 from 55.1 in April.

Key Quotes

“At the sector level, we expect the regional manufacturing PMI to increase to 56.4 from 56.2 and the services PMI to increase to 54.9 from 54.7. Recent restraints on activity such as strikes and poor weather should reverse and more favourable financial market conditions should also improve sentiment.”