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Eurozone Activity Slumps, Layoffs Surge; France Boosts Fuel Aid

5/22/2026

44 6 Full Breakdown

Summary

Story summary

Eurozone private-sector activity fell in May as the PMI dropped to 47.5, lowest since October 2023.
Eurozone firms cut jobs for a fifth month, marking the steepest layoffs since November 2020.
European gas storage sits just above 35 percent, well below the 50 percent seasonal norm.
France announced €710 million in fuel-price aid, raising total support to nearly €1.2 billion.
The ECB kept rates steady in April and may raise them by 25 bps in June.

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Story summary

Eurozone private-sector activity fell in May as the PMI dropped to 47.5, lowest since October 2023.
Eurozone firms cut jobs for a fifth month, marking the steepest layoffs since November 2020.
European gas storage sits just above 35 percent, well below the 50 percent seasonal norm.
France announced €710 million in fuel-price aid, raising total support to nearly €1.2 billion.
The ECB kept rates steady in April and may raise them by 25 bps in June.