The pace of slowdown in Eurozone manufacturing activity slowed in April, reports said Monday citing data from the Markit Economics.
The purchasing managers' index, or PMI, rose to a six-month high of 36.8 in April from 33.9 in March. It was also an increase from the initial estimate of 36.7. Economists had forecast the PMI to remain at its flash reading. A PMI reading below 50 suggests contraction in the sector.
Separate reports showed that the PMI for Germany, the biggest Eurozone economy, stood at 35.4 in April, up from a flash reading of 35 and 32.4 recorded in March. Further, the French manufacturing PMI rose to a six-month high of 40.1 from 36.5 in March, while above the preliminary estimate of 40.
The index for Italy came in at 37.2, up from 34.6 in March, while economists had forecast the index to log 36.8.
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