The economic shock from the Iran war hit European factories last month, suppressing demand for their goods and pushing up raw material costs at the fastest rate in four years, although their Asian peers saw activity expand due to stockpiling, surveys showed Monday.
The U.S.-Israeli conflict with Iran, which began in late February, has upended trade, rattled financial markets and raised concerns over global energy supplies, particularly through the Strait of Hormuz, a key route for oil and gas shipments.
Monday's surveys came after the heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank and World Trade Organization (WTO) warned the war was straining global energy supplies.
S&P Global's Eurozone Manufacturing PMI fell to 51.6 in May from April's near four-year high of 52.2, but ahead of a preliminary estimate of 51.4.
A reading above 50.0 indicates growth.
