Eurozone manufacturing PMI tumbles to 35-month low in April

Index falls to 45.5 in April compared to month ago, bucking economists' expectation of growth

By Tuba Ongun

ANKARA (AA) - The eurozone manufacturing sector purchasing managers’ index (PMI) unexpectedly plunged to a 35-month low of 45.5 in April, according to flash data released on Friday.

The Hamburg Commercial Bank (HCOB) flash PMI data compiled by S&P Global decreased from 47.3 in March, while the market forecast was a hike to 48 in April.

The new orders decreased the most in four months, backlogs of orders dropped and employment growth eased to the lowest in 27 months.

On the other hand, the business activity growth accelerated to an 11-month high in April, as the euro area HCOB flash composite PMI output index hit 54.4 in April.

The uptick was led by reviving demand along with the largest rise in employment for nearly a year.

Kaynak:

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