Eurozone Economic Growth Shows Signs of Cooling in April

The Eurozone's private sector expansion decelerated in April, as highlighted by the latest S&P Global and Hamburg Commercial Bank (HCOB) report. The composite Purchasing Managers' Index (PMI) dipped slightly to 50.4, marking a 0.5-point decrease from March. Meanwhile, the services sector experienced a more pronounced slowdown, with its PMI dropping 0.9 points to 50.1.

Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, commented on the findings, noting, "The Eurozone's economic growth has begun to slow in the second quarter after a stronger performance in the first three months of the year. The services sector, a critical component of the economy, nearly stalled in April. Although manufacturing output unexpectedly rose, it wasn't sufficient to counteract the overall economic deceleration."