In May 2025, the Eurozone economy faced an unexpected contraction in business activity. The combined Purchasing Managers' Index (PMI) compiled by S&P Global and Hamburg Commercial Bank (HCOB) fell to 49.5 from 50.4 in April. This is below the 50 level that indicates economic expansion. Reuters [Link 1] The service sector has suffered a severe recession. The contraction was mainly pressured by the services sector, with the Services PMI falling to 48.9, the lowest level since J