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Eurozone composite PMI declines in April: Markit

by ChemOrbis Editorial Team -
  • 25/04/2016 (10:50)
According to a composite purchasing managers’ index (PMI) compiled by Markit Economics, a combined measure of manufacturing and service output in the eurozone fell to a reading of 53.0 in April from March’s reading of 53.1, missing estimates calling for a rise of 53.2. Any reading above 50 indicates an expansion.

The lower index figure was attributed to a slowing recovery in the eurozone economy. According to Markit, the region’s flash services PMI index rose to 53.2 from a reading of 53.1 in March while the PMI for manufacturing activities in the eurozone decreased to 51.5 on a seasonally adjusted basis from March’s reading of 51.6. Analysts had expected these indices to rise to 53.3 and 51.8 in April, respectively.

The Eurozone economy is expected to grow by around 0.3% in the second quarter, down from initial predictions of 0.4% a week earlier.
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