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By Bert Colijn
The eurozone economy is slowly getting out of its slump. The April PMI shows that the economy is gearing up for an acceleration in activity after a year and a half of broad stagnation. The services sector is
Eurozone PMI Signals A Pickup In Growth
Summary
- The PMI increased from 50.3 to 51.4 in April, suggesting that the eurozone economy is finally leaving stagnation and returning to growth at the start of the second quarter.
- Inflationary pressures remain for the service sector, but don’t expect this to deter the ECB from cutting rates.
- Expect services to continue to lead the recovery as weak global demand offsets improvements in domestic real wages for eurozone manufacturers.
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