Unchanged PMI in the eurozone signals growth will continue, but slower
Frankfurt — Economic momentum in the eurozone kept a steady pace in April after softening earlier in the year, in a sign that growth in the region is set to continue albeit at a slower pace. A composite purchasing managers index (PMI) remained unchanged at 55.2, IHS Markit said on Monday. Economists surveyed by Bloomberg predicted a decline to 54.8. While activity in services picked up, growth in manufacturing slowed to the weakest in more than a year. "The eurozone economy remained stuck in a lower gear in April," said Chris Williamson, chief business economist at IHS Markit. "Growth has downshifted markedly since the peak at the start of the year, but importantly still remains robust." The report follows a recent spate of weaker-than-expected economic data which, together with risks surrounding global trade, have caused some European Central Bank officials to advocate prudence in normalising monetary stimulus. Policy makers are expected to wind down their bond-buying programme by ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.