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- Six year high for Euro area services PMI
Six year high for Euro area services PMI
Euro area economic growth accelerated to a sixyear high at the start of the second quarter. This was signalled by the final Markit Eurozone PMI Composite Output Index rising to 56.8 in April, up from 56.4 in March and the earlier flash estimate of 56.7. Activity has expanded for 46 months in a row. Output growth accelerated at manufacturers and service providers, with rates of increase hitting 72- month records in both cases.
The slightly sharper expansion was again registered in manufacturing. Underpinning growth of economic activity was a strong increase in incoming new business. New orders rose for the twenty-ninth month running, with the rate of expansion staying close to March's high.
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