FXstreet.com (Barcelona) - Activity in both services and manufacturing sectors has declined to levels close to contraction in the European Union, according to the preliminary flash estimation provided by NTC statistics.

Manufacturing activity has edged down to 50.5 in May from 50.7 in April, while services activity has dropped to 50.6 in May from 52.0 in April. May's levels are approaching the 50 level which divides contraction from expansion of the sector's activity.

The Euro Zone's composite PMI has declined to 51.1 in May from 51.9 in April.