The Flash Eurozone Composite PMI Output Index, which measures the services and manufacturing business activity in the region, stood at 50.1 in April, falling from March's figure of 50.9 and hitting a 4-month low, according to a preliminary report published by S&P Global and Hamburg Commercial Bank (HCOB) on Wednesday.
The Flash Services PMI Business Activity Index stood at 49.7 in April, falling by 1.3 index points from March's figure and reaching a 5-month low. The Flash Eurozone Manufacturing PMI hit a 27-month high at 48.7.
"Manufacturing seems to be holding up better than expected. Despite the US introducing general tariffs of 10% and car tariffs of 25% at the start of April, most manufacturers in the Eurozone are not too fazed. Instead of falling off a cliff, they've actually increased production for the second month in a row, and even more robustly than in March," HCOB Chief Economist Cyrus de la Rubia commented. "The service sector has turned into a bit of a party pooper," he added.
