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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone S&P Global Composite PMI fell to 48.5 in May 2026
FMPMonthlyReleased June 2026
Eurozone S&P Global Composite PMI fell to 48.5 in May 2026, released June 2026, down 0.3 from April's 48.8 reading. The reading matched the 47.5 consensus.
Latest Release
48.5
Actual
47.5
Consensus
48.8
Previous
Median Absolute Error
±0.6
across last 12 releases
Last Call
Jun 2026
Predicted: 47.2
Actual: 48.5
Error: -1.3
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
S&P Global Composite PMI (European Union) was reported at 48.50 in May 2026. This beat the market consensus of 47.50 by 1.00. The reading fell from the previous value of 48.80.
WHY IT MATTERS
The trailing three releases averaged 48.83, down from the prior three at 50.60.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR). Over the last 12 releases, the Sigmacast model's median absolute error is 0.60.
WHAT TO WATCH NEXT
The next release is scheduled for June 23, 2026. Same-country events in the next 14 days include ZEW Economic Sentiment Index (Jun 16) and Economic Sentiment (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update June 2026.
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S&P Global Composite PMI - EU
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About S&P Global Composite PMI — European Union
DEFINITION
The S&P Global Composite PMI is a widely recognized financial indicator that measures the overall economic health of a country by combining the manufacturing and services sectors. It provides valuable insights into the current state of the economy, as well as future trends, and is used by investors, policymakers, and businesses to make informed decisions. With its comprehensive and timely data, the S&P Global Composite PMI is a crucial tool for understanding the performance of the global economy.
WHY THIS INDICATOR MATTERS
Sentiment surveys are forward-looking inputs that often lead hard data on output and hiring. Sharp swings can drive cross-asset repricing. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (May 2026): actual 48.5, consensus 47.5. Prior reading (May 2026): 47.5. Before that (Apr 2026): 48.8.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.