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4/23, 10:01 AM (Source: TeleTrader)
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Eurozone composite PMI ticks higher in April

Business activity in the euro area continued to expand in April on the back of strong gains in manufacturing and a return to growth in the service sector, according to a new preliminary report from IHS Markit released on Friday.

The headline IHS Markit Eurozone Composite PMI rose from 53.2 in March to 53.7 in April. Manufacturing output in the euro area grew for the tenth consecutive month to reach a survey record high, the data showed.

"In a month during which virus containment measures were tightened in the face of further waves of infections, the eurozone economy showed encouraging strength," Chief Business Economist at IHS Markit Chris Williamson said.

Breaking the News / JC