Support the Wall Street Examiner! Choose your level of support to receive a free proprietary report as my thanks. Click the button below to see your options. Become a Patron!

FT Alphaville » April started bad and got worse, final PMIs show

On Friday morning, the Markit Eurozone Composite Purchasing Manager Indices were out, signalling further weakness. The manufacturing indices, released on Wednesday, had already set the scene for further deterioration not only in the periphery, but also the core. Add the services sector, and the composite reading was 46.7, versus an earlier flash estimate of 47.4, and 49.1 for March. The final reading for services alone was a full point lower, at 46.9, than its flash estimate of 47.9.

One of the most concerning things was the acceleration in the deterioration within April itself, as shown by the deviation between the flash estimate and the final reading — something that really isn’t common.

via FT Alphaville » April started bad and got worse, final PMIs show.

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.