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04.05.2016 16:03

Eurozone's final services PMI remains unchanged at 53.1 in April

Markit Economics released final services purchasing managers' index (PMI) for the Eurozone on Wednesday. Eurozone's final services purchasing managers' index (PMI) remained unchanged at 53.1 in April, down from the preliminary reading of 53.2.

The downward revision was mainly driven by Germany.

Eurozone's final composite output index fell to 53.0 in April from 53.1 in March, in line with the preliminary reading.

The decline was mainly driven by a fall in output prices.

"The final PMI data confirm the earlier flash estimate that the Eurozone economy grew at a steady but unspectacular annual rate of 1.5% at the start of the second quarter," Chief Economist at Markit Chris Williamson said.

"However, while still tepid, the sustained Eurozone growth contrasts with slowdowns in the US and UK, suggesting the ECB's more aggressive stimulus is helping to drive a steady recover," he added.

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