Key points for April:
- Final Eurozone Composite Output Index: 46.7 (Flash 47.4, March 49.1)
- Final Eurozone Services Business Activity Index: 46.9 (Flash 47.9, March 49.2)
Contractions seen in France, Italy and Spain, while Germany slips closer to stagnation
At 46.7 in April, down from 49.1 in March, the Markit Eurozone PMI ® Composite Output Index signalled the fastest rate of decline since last October and one of the steepest contractions since mid-2009. The headline index also came in well
below its earlier flash estimate of 47.4. Deeper downturns in output were signalled in both the manufacturing and service sectors, as the rates of contraction accelerated in both cases. Both sectors were hit by marked declines in new business. Manufacturers were also hurt by lower levels of new export orders, with trade between Eurozone nations especially weak.