Data Showed Recovery In The Eurozone

Data showed recovery in the Eurozone. Service PMI in the region exceeded 50 after 7 months.

The data for the first month of the second quarter in the Eurozone indicated that the recovery has accelerated. While the leading purchasing managers indexes (PMI) were above expectations across the region, the positive performance especially in the service sector attracted attention. Eurozone composite leading PMI recorded as 53.7 in April. Economists who participated in the Bloomberg survey had expected this data to be 52.9. Service PMI in the region was recorded as 50.3 in the same period. Thanks to this, the service PMI has seen above the threshold level of 50 which means growth after 7 months. Manufacturing PMI performed similarly well. Manufacturing PMI in the region was 63.3 in April. In the Bloomberg survey, the expectation was announced as 62.

Data of the Largest Economy of the Region Was Mixed

Data for Germany, the region's largest economy, also showed mixed performance. Accordingly, the leading compound PMI was recorded as 56 in April in the country. The expectation for this data was announced as 57. The service sector PMI in the country did not meet the expectations with 50.1. In addition, manufacturing PMI performed above expectations with 66.4.