Euro-Area Economic Upswing Intensifies on Resurgent Services
- Composite PMI rises to 54.4; economists’ estimate was 53.7
- Growth is uneven as manufacturing sector sees falling demand
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The euro area’s economic rebound gained further momentum in April thanks to resurgent service-sector activity, while the business outlook remains resilient to recent banking-sector stress.
Growth accelerated to an 11-month high, driven by greater demand and leading to a significant increase in employment, according to business surveys by S&P Global. Price pressures moderated again.