Eurozone PMI Manufacturing rose to 63.3 in April, up from 62.5, above expectation of 62.0. That’s also a the highest level since record began in June 1997. PMI Services rose to 50.3, up from 49.6, above expectation of 49.1, an 8-month high. PMI Composite rose to 53.7, up from 53.2, a 9-month high.
Chris Williamson, Chief Business Economist at IHS Markit said: “In a month during which virus containment measures were tightened in the face of further waves of infections, the eurozone economy showed encouraging strength. Although the service sector continued to be hard hit by lockdown measures, it has returned to growth as companies adjust to life with the virus and prepare for better times ahead. The manufacturing sector is meanwhile booming. Pent-up spending, restocking, investment in new machinery and growing optimism about the outlook have all helped fuel a further record surge in both output and new orders.”
