Euro zone business in services-led bounce in April, PMI survey shows
LONDON - Overall business activity in the euro zone expanded at its fastest pace in nearly a year this month as a buoyant recovery in the bloc's dominant service industry more than offset a deeper downturn in manufacturing, a survey found.
"The euro zone got off to a good start in the second quarter. The Composite HCOB Flash PMI took a significant step into expansionary territory. This was propelled by the services sector, where activity has gathered further steam," said Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank. But the manufacturing PMI dropped to 45.6 from 46.1, confounding expectations in a Reuters poll for a lift to 46.6. It has been below 50 since mid-2022.Indexes measuring demand also highlighted the division between the two sectors. The services new business index rose to an 11-month high of 52.1 but the manufacturing new orders reading fell to a four-month low of 43.8 from 46.0.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Focus on April PMIs todayIn the euro area, focus today will be on the euro area PMIs for April.
Read more »
China NBS Manufacturing PMI improves to 50.8 in March, Services PMI climbs to 53.0China’s official Manufacturing Purchasing Managers' Index (PMI) improved to 50.8 in March from the previous reading of 49.1, the latest data published by the country’s National Bureau of Statistics (NBS) showed on Sunday.
Read more »
Eurozone Preliminary Manufacturing PMI drops to 45.6 in April vs. 46.5 expectedThe Eurozone manufacturing sector activity contraction unexpectedly deepened while the services sector continued to expand in April, according to the data from the HCOB's latest purchasing managers index survey released on Tuesday.
Read more »
US PMI data expected to signal economic momentum persists in AprilS&P Global will release the flash estimates of the United States (US) Purchasing Managers Indexes (PMIs) for April on Tuesday, a survey that measures business activity throughout the month.
Read more »
German Preliminary Manufacturing PMI rises to 42.2 in April vs. 42.8 expectedGermany’s manufacturing sector witnessed some improvement in the contraction in April while the services sector outperformed, the preliminary business activity report published by the HCOB survey showed Tuesday.
Read more »
French service sector grows in April but manufacturing weakens, PMI showsFrench service sector grows in April but manufacturing weakens, PMI shows
Read more »