Euro area business activity accelerates further in April - Breaking The News

Euro area business activity accelerates further in April

21 April

1 min read

EPA-EFE/JULIEN WARNAND

The Eurozone Purchasing Managers' Index (PMI) Composite Output Index, which takes both the services and the manufacturing business activity into account, is expected to come in at 54.4 in April, reaching its 11-month high, S&P Global and Hamburg Commercial Bank (HCOB) revealed in their preliminary report on Friday.

The figure stood higher than analysts estimated, mostly driven by the "resurgent service sector activity." The Services PMI Activity Index came in at 56.6, hitting its 12-month high. Meanwhile, Manufacturing PMI and Manufacturing Output Index, are both estimated to slow, falling to its 35-month low and 4-month low of 45.5 and 48.5 respectively.

"The gap between the partly booming services sector on the one hand, and the weaking manufacturing sector on the other has widened further," HCOB Chief Economist Dr. Cyrus de la Rubia said. "The decline in manufacturing output is partly due to special effects in France," he explained.

data pmi composite

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