• Overall business activity in the euro zone expanded at its fastest pace in nearly a year this month as a buoyant recovery in the bloc’s dominant service industry more than offset a deeper downturn in manufacturing, a survey found.
• The divide between services firms and factories was also evident in the country breakdown for Germany and France, the bloc’s two biggest economies and the only ones to publish preliminary readings of the survey.
• HCOB’s preliminary composite euro zone Purchasing Managers’ Index (PMI), compiled by S&P Global, bounced to 51.4 this month from March’s 50.3, well ahead of expectations in a Reuters poll for 50.7 and marking its second month above the 50 level separating growth from contraction.

https://www.reuters.com/markets/europe/euro-zone-business-services-led-bounce-april-pmi-survey-shows-2024-04-23/