Top Euro-Area Economies Surge on Services, French Factories Hurt
- German composite PMI rises to 53.9; economists’ estimate 52.8
- French composite PMI gains to 53.8; economists expected 52.9
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The euro area’s top two economies surged again at the start of the second quarter, with private-sector output jumping to the highest in around a year on the back of thriving services.
The HCOB Flash Purchasing Managers’ Index for France rose to 53.8 in April from 52.7 a month earlier, a much bigger increase than economists predicted. This was driven by services, while manufacturing slumped in part as a result of protests against President Emmanuel Macron’s unpopular pension reform.