The European Business Activity Index for May, released last Friday, fell short of forecasts. Decrease of composite PMI in the euro area industrial sector and services was 0.1 p. more than analysts expected and reached 54.8. April results, by comparison, were 1 p. higher (55.8). The statistics were presented by S&P Global. The similar indicator for Germany also showed decline contrary to the growth forecast - it was 53.7 p. against expected 54.6 p. Eurozone services PMI dipped by 0.4 p. to 56.1 as compared to April, failing to match the more optimistic forecasts. In Germany it was noticeably lower than expected at 56.3, amounting to 55 p. In France both indices demonstrated negative dynamics similarly. A PMI level above 50 points indicates an increase in economic activity, while values below this threshold signal a slowdown in economic activity.