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Cyrus de la Rubia - 1 Jonathan Cable - 1 Toby Chopra - 1
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P Global - 1 April's - 1 Hamburg Commercial Bank - 1 PMI - 1 European Central Bank - 1 ECB - 1 Thomson - 1

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☆ Euro zone business growth slowed in May as factories struggled-PMI
  + stars: | 2023-06-05 | by ( ) www.reuters.com   time to read: +2 min
While still comfortably above the 50 mark separating growth from contraction it was below a preliminary estimate for 53.3. A PMI covering the services sector dropped to 55.1 from April's one-year high of 56.2, below the 55.9 flash reading. A manufacturing PMI released last week showed the downturn in factory activity deepened as demand slumped despite prices falling. "The services sector is being supported by the strong labour market, rising wages and a tourism sector that is flourishing throughout Europe," said de la Rubia. "The latter is confirmed by the new export business PMI, which includes tourism-related demand and remained near its series peak in May."
Persons: Cyrus de la Rubia, Jonathan Cable, Toby Chopra Organizations: P Global, April's, Hamburg Commercial Bank, PMI, European Central Bank, ECB, Thomson Locations: Hamburg, Europe
☆ Euro zone recovery unexpectedly gathering pace in April - PMI
  + stars: | 2023-04-21 | by ( ) www.reuters.com   time to read: +2 min
April 21 (Reuters) - The euro zone economic recovery has unexpectedly gathered pace this month as the bloc's dominant services industry saw already buoyant demand rise, more than offsetting a deepening downturn in manufacturing, surveys showed. For example, the gap between the partly booming services sector on the one hand and the weakening manufacturing sector on the other has widened further." But it was a different story for the bloc's manufacturers who saw demand decline faster. The sector's headline PMI fell to 45.5 from 47.3, its lowest since the coronavirus pandemic was cementing its grip on the world three years ago. An index measuring output, which feeds into the composite PMI and had spent two months in positive territory, fell to 48.5 from 50.4.
☆ U.S., Euro zone business activity accelerates to 11-month highs in April
  + stars: | 2023-04-21 | by ( Lucia Mutikani Jonathan Cable | Lucia Mutikani | Jonathan Cable | ) www.reuters.com   time to read: +5 min
The survey's flash services sector PMI rose to 53.7, the highest reading in a year, from 52.6 in March. Economists polled by Reuters had forecast the services PMI falling to 51.5. Flash PMIIn the euro zone, the bloc's dominant services industry saw already-buoyant demand rise too, more than offsetting a deepening downturn in manufacturing. However, the manufacturing PMI fell to 45.5 from 47.3, its lowest since the coronavirus pandemic was cementing its grip on the world three years ago. "The PMI sheds a positive light on the economic performance in the euro zone, as a pickup in service sector activity is boosting growth," said Bert Colijn, senior euro zone economist at ING, noting manufacturing weakness remained a concern.
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