Euro zone business activity grew in April at its fastest pace in almost a year, a strong recovery in…
(Boursier.com) — Euro zone business activity grew in April at its fastest pace in almost a year, as a vigorous recovery in the services industry more than offset the slowdown in the manufacturing sector. , according to the HCOB/S&P Global survey of purchasing managers published on Tuesday.
The composite “flash” PMI index jumped to 51.4 this month, compared to 50.3 in March and a consensus of 50.7. This is the second consecutive reading of the index above the threshold of 50 which separates growth from a contraction in activity.
The “flash” services PMI rose to 52.9 from 51.5 last month, compared to a consensus of 51.8.
The “flash” manufacturing PMI, on the other hand, fell from 46.1 to 45.6 in April, below expectations for a reading of 46.6. The index has been below the threshold of 50 since mid-2022.
The sub-index measuring manufacturing production, however, increased from 47.1 in March to 47.3.
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