German manufacturing PMI to remain roughly stable - TDS

Research Team at TDS, suggests that after picking up over 1 point in April, we expect the German manufacturing PMI to remain roughly stable in May, with a small decline to 51.7 in May (consensus: 52.0).

Key Quotes

“Positive surprises in the French data releases in recent weeks likely helped support French confidence in May, which should boost the French services PMI further away from the all-important 50 level. We expect a reading of 51.5 against consensus of an unchanged 50.6.”