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Financial News: Eurozone Private Sector Growth Slows In April

Eurozone Private Sector Growth Slows In April

04/18/2019 - 07:19:00 (RTTNews)

(RTTNews) - Eurozone private sector expanded at the slowest pace for the second successive month in April as manufacturing contracted and service sector growth slowed, preliminary data from the IHS Markit survey showed on Thursday.

The Eurozone Composite Purchasing Managers' Index fell to a three-month low of 51.3 from 51.6 in March. A score above 50 suggest growth in the sector, while a reading lower than 50 indicates contraction.

New export orders fell sharply for the seventh straight month, while new order growth picked up marginally, remaining close to stagnant.

Backlogs of work declined for the fourth time in five months, showing any growth since November 2018.

Employment growth rose slightly but remained at the lowest since 2016.

Input cost inflation across the euro area accelerated for the first time in seven months from March's two-and-a-half year low, the survey reported.

Business expectation declined for a second successive month to the lowest since January.

The manufacturing PMI rose to a two-month high of 47.8 from 47.5 in March.

The services PMI hit a three-month low of 52.5 from 53.3 in March.

In Germany, Composite Purchasing Managers' Index rose to a two-month high of 52.1 from 51.4 in March. The manufacturing PMI rose to a two-month high of 44.5 from 44.1 in March.

The services PMI hit a seven-month low of 55.6 from 55.4 in March.

The French Composite Purchasing Managers' Index rose to a two-month high of 50.0 from 48.9 in March.

The manufacturing PMI fell to a seven year low of 49.6 from 49.7 in March.

The services PMI rose to a five-month low of 50.5 from 49.1 in March.

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