Business activity in the eurozone eked out minimal growth in April, as a faltering services sector offset a surprise manufacturing rebound, while easing inflation strengthened expectations of a European Central Bank rate cut at its next June meeting.
The S&P Global Purchasing Managers’ Index (PMI) for the eurozone rose slightly to 50.1 in April, a level that technically signals growth, but only just. The reading, revised up from an initial 49.7, revealed an economy struggling to build on momentum from the first quarter of the year.
