Eurozone output set to rise for fourth month running
Eurozone growth is slowing, according to the latest purchasing managers' index (PMI) data from Markit. These flash estimates suggest that the area's exit from recession may nonetheless be more than temporary – they signal growth for a fourth consecutive month.
All sector growth has dropped to a two month low, down from 52.2 to 51.5, according to Markit's composite PMI. Any number above 50 implies an expansion.
Eurozone services slid from 52.2 to 50.9 (52.4 expected), manufacturing rose from 51.1 to 51.3 (51.4 expected).
French services PMI dropped from 51.0 to 50.2 (rise to 51.3 expected) as manufacturing fell from 49.8 to 49.4 (50.1 expected).
The German service sector saw a fall from 53.7 to 52.3 (rise to 53.9 expected), while manufacturing rose in-line with analyst estimates, up from 51.1 to 51.5. Total private sector output looks to be rising at its slowest pace for three months.