The euro area private sector growth accelerated to an 11-month high in April driven by the service sector, final survey results from S&P Global showed on Monday.
The euro area private sector expanded the most in nearly a year in April as the continuing downturn in the manufacturing activity was offset the strength in the service sector, flash survey results from S&P Global showed on Tuesday.
The euro area manufacturing sector ended the year firmly in the contraction territory due to the sustained decline in new orders and output, strongly supporting the view that the region has entered a recession at the end of 2023.
The euro area private sector contracted throughout the second half of the year adding to risk of recession since the third quarter, preliminary results of the purchasing managers' survey showed on Friday.
Driven by the deepening downturn in both services and manufacturing activity, the euro area private sector shrank for the fifth month in a row in October with output falling the most over a decade if the pandemic period is excluded.