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Financial News: Eurozone Private Sector Expands At Solid Pace

Eurozone Private Sector Expands At Solid Pace

05/04/2018 - 04:26:00 (RTTNews)

(RTTNews) - Eurozone economic activity expanded strongly in April but the pace of expansion slowed marginally since March, final data from IHS Markit showed Friday.

The composite output index fell slightly to 55.1 in April from 55.2 in March. According to flash estimate, the index remained unchanged at 55.2 in April.

The headline index has signaled expansion in each of the past 58 months and remained above its average for that sequence of 54.0.

The services Purchasing Managers' Index dropped to 54.7 in April from 54.9 a month ago. The flash reading was 55.0.

France registered a faster growth in April, while rate of expansion slowed to a 19-month low in Germany.

France's composite output index rose to 56.9 in April from 56.3 in March. The score came in line with the flash estimate. Similarly, the services PMI improved to 57.4, as estimated, from 56.9 in the previous month.

Germany's composite PMI came in at 54.6 in April, down from March's 55.1 and below the flash estimate of 55.3. The weaker expansion in services business activity in April offset a slight pick-up in the rate of manufacturing output growth.

Germany's services PMI slid to 53.0 from 53.9 in the previous month. This was the lowest since September 2016. The flash reading was 54.1.

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