Survey points to slowdown in Eurozone recovery momentum
SURVEY figures published yesterday have ended a positive run of data for the Eurozone, suggesting the currency union’s growth may not be as strong as hoped.
The purchasing managers’ index – a survey of private sector companies compiled by Markit dropped to a score 53.5 in April from March’s 54.2. A score above 50 signifies an expansion in business activity. April’s drop suggests growth has slowed. It ends the survey’s surging increase that began in November, when the Eurozone economy managed to stave of a triple-dip recession.
The two biggest economies in the Eurozone – France and Germany – both saw weaker surveys, the figures showed. Germany’s eased to a score of 54.5 from March’s 55.4 while France’s slipped to a score of 50.2 from March’s 51.5.