European Manufacturing and Services contracts further in April

By IBTimes Staff Reporter | April 23 2012 4:34 AM

The euro zone released the purchasing managers' advanced index for April, where the manufacturing sector contracted to 46.0 from the previous of 47.7, beating estimates of 48.1.

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The services sector contracted as well to 47.9 from the previous of 49.2, below estimates of 49.3, accordingly the PMI composite fell to 47.4 from 49.1, below expectations of 49.3.

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