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Data from FMP. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone S&P Global Manufacturing PMI fell to 51.6 in May 2026
FMPMonthlyReleased June 2026
Eurozone S&P Global Manufacturing PMI fell to 51.6 in May 2026, released June 2026, down 0.6 from April's 52.2 reading. The reading matched the 51.4 consensus.
Latest Release
51.6
Actual
51.4
Consensus
52.2
Previous
Median Absolute Error
±0.32
across last 12 releases
Last Call
Jun 2026
Predicted: 51.7
Actual: 51.6
Error: +0.1
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 Manufacturing PMI (European Union) was reported at 51.60 in May 2026. This beat the market consensus of 51.40 by 0.20. The reading fell from the previous value of 52.20.
WHY IT MATTERS
The trailing three releases averaged 51.53, up from the prior three at 47.70.
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 0.32.
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 Manufacturing PMI - EU
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About S&P Global Manufacturing PMI — European Union
DEFINITION
The S&P Global Manufacturing PMI is a widely recognized financial indicator that measures the performance of the manufacturing sector in major economies around the world. It provides valuable insights into the health and growth of the global manufacturing industry, serving as a key barometer for investors, businesses, and policymakers. The index is based on a monthly survey of purchasing managers, and its timely and accurate data is highly regarded for its ability to forecast economic trends and inform decision-making.
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 51.6, consensus 51.4. Prior reading (May 2026): 51.4. Before that (Apr 2026): 52.2.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print. The 1-month and 3-month horizons disagree, suggesting a mixed 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.