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LONDON (Reuters) -The euro zone’s recovery from its pandemic-induced economic downturn was much stronger than expected in April as the service industry adapted to lockdowns and made a surprise return to growth, a survey showed.
FILE PHOTO: European Union flags flutter outside the European Commission headquarters in Brussels, Belgium, March 24, 2021. REUTERS/Yves Herman
With the continent facing a fresh wave of coronavirus infections governments have reimposed strict curbs to contain the spread, forcing some businesses to close and encouraging citizens to stay home.
That meant the economy was expected to recover at a much weaker rate this quarter than had been expected only a month previously, according to a Reuters poll last week. [ECILT/EU]
Eurozone Private Sector Growth Gathers Momentum In April
BRUSSELS (dpa-AFX) - The euro area private sector grew at the fastest pace since last July as a record expansion of manufacturing output was accompanied by a return to growth in the service sector, flash survey data from IHS Markit showed on Friday.
The flash composite output index rose unexpectedly to a 9-month high of 53.7 in April from 53.2 in the previous month. The score was forecast to fall to 52.8. A score above 50.0 indicates expansion.
Output climbed for two months after four months of decline, with the latest expansion the second-largest recorded since September 2018.
Euro zone economic recovery accelerates in April as services bounce back: PMI theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Eurozone economic recovery surges in April as services rebound
17 hours ago A worker at German manufacturer of silos and liquid tankers, Feldbinder Special Vehicles, moves rolls of aluminium at the company’s plant in Winsen, Germany. File/Reuters
The eurozone’s recovery from its pandemic-induced economic downturn was much stronger than expected in April as the service industry adapted to lockdowns and made a surprise return to growth, a survey showed.
With the continent facing a fresh wave of coronavirus infections governments have reimposed strict curbs to contain the spread, forcing some businesses to close and encouraging citizens to stay home.
اقتصاد منطقة اليورو يظهر تكيفا مع عمليات الإغلاق aleqt.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from aleqt.com Daily Mail and Mail on Sunday newspapers.