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Eurozone composite PMI falls in April: Markit

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/04/2015 (17:19)
Manufacturing and service output in the eurozone posted an unexpected decline in April, according to a preliminary composite purchasing managers’ index (PMI) compiled by Markit Economics. The composite PMI declined to a reading of 53.5 in April from a reading of 54 in March. Economists’ initial estimates called for an increase to a reading of 54.4. Any reading above 50 indicates an expansion while any figure below 50 represents a contraction.

The PMI for the region’s manufacturing sector declined to a reading of 51.9 in April from 52.2 in the previous month while the service PMI decreased to 53.7 from a reading of 54.2.

Among the region’s leading economies, Germany’s composite PMI fell to a reading of 54.2 from a reading of 55.4 in the previous month. However the country’s April reading still represented the second strongest reading seen since September 2014. The country’s manufacturing PMI fell to a reading of 51.9 from 52.8 in March while the PMI for the German service sector decreased to a reading of 54.4 in April.

Meanwhile, in a separate report, Markit released France’s composite PMI, which declined to a three month low of 50.2 in April from a reading of 51.5 in the previous month. The country’s manufacturing PMI declined to a reading of 48.4 from 48.8 in the preceding month while the services PMI dropped to a reading of 50.8 after posting a reading of 52.4 in March.
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