Flash Eurozone Composite PMI Output Index Dips

The preliminary report by S&P Global and Hamburg Commercial Bank (HCOB) reveals a slight decline in the Flash Eurozone Composite PMI Output Index to 50.1 in April, down from March's 50.9, marking a 4-month low.

Services Sector Shows Significant Weakness

Highlighting the downturn, the Flash Services PMI Business Activity Index fell to 49.7, a 1.3 point drop from March, reaching a 5-month low. In contrast, the manufacturing sector showed resilience with the Flash Eurozone Manufacturing PMI hitting a 27-month high at 48.7.

Expert Insights

"Manufacturing seems to be holding up better than expected," remarked HCOB Chief Economist Cyrus de la Rubia. Despite new US tariffs, Eurozone manufacturers have increased production for the second consecutive month. However, de la Rubia noted, "The service sector has turned into a bit of a party pooper," indicating a mixed performance across sectors.