Eurozone private sector activity expanded at a solid pace, survey results from IHS Markit showed on Monday. According to experts, this had a positive impact on market sentiment regarding the state of the region's economy.
The IHS Markit composite purchasing managers’ index kept a steady pace in April. The index tracks business trends across both the manufacturing and service sectors.
The score was unchanged at 55.2 in April 2018. The services purchasing managers' index came in at 55 after hitting 54.9 in March. Meanwhile, the factory PMI edged down to 56 from 56.6 a month ago.
A PMI reading above the 50 threshold signals growth, while figures below 50 mean contraction.
"The April data are running at a level broadly consistent with eurozone GDP growth of approximately 0.6% at the start of the second quarter," Chris Williamson, chief business economist at IHS Markit, said.
