Eurozone composite PMI on average stable - TDS

Research Team at TDS, notes that the Euroarea composite PMI for April was on average stable, falling marginally by 0.1pt.

Key Quotes

“The manufacturing PMI fell minimally to 51.5 from 51.6 in March, and the services index also rose minimally to 53.2 from 53.1 last month. A breakdown of the manufacturing PMI shows manufacturing output fell by -0.6pt, new orders decreased -0.3pt and employment rose +0.7pt.

Within the services PMI, the forward-looking subcomponents showed 'incoming new business' rising +1.0pt to 53.7, and 'business expectations' decreasing -0.2pt. On a country basis, the German composite PMI was lower on the month, declining -0.2pt to 53.8, while the French composite figure rose +0.5pt to 50.5.”