Today several countries will release their Purchase Manager’s Index (PMI) data for May – a good indicator of the directional trend in the manufacturing and services sector. Countries such as Czech Republic and Turkey generate a significant proportion of their GDP from manufactured exports, 23% and 19% respectively. Thus, it will interesting to see how today’s data prints compare with expected prints. The data will give EM investors insight into the overall economic activity in the countries and an inclination of expected performance over the coming month. Other PMI prints being released today include South Africa, Poland, Russia and Hungary.