Eurozone Business Activity Shows Signs of Cooling in April

According to a recent report by S&P Global and Hamburg Commercial Bank (HCOB), the Eurozone's private sector activity has continued to grow, albeit at a decelerated pace in April. The composite Purchasing Managers' Index (PMI) witnessed a slight decline, dropping by 0.5 points from March to settle at 50.4 in April. Similarly, the services PMI experienced a more pronounced decrease, falling by 0.9 points to 50.1.

Insights from the Chief Economist

Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, commented on the findings, stating, "The Eurozone's economic growth has shown signs of slowing at the onset of the second quarter, following a noticeable uptick in the first three months of the year." He further elaborated, "While the services sector, a significant contributor to the economy, nearly stagnated in April, an unexpected rise in manufacturing output was insufficient to counteract the overall deceleration in growth."