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Eurozone Economic Downturn Deepens In April

Eurozone private sector activity declined in April at the fastest rate since October 2011, final data released by Markit showed Friday.

The composite output index dropped to 46.7 in April from 49.1 in March. The headline index also came in well below its earlier flash estimate of 47.4.

Deeper downturns in output were signaled in both the manufacturing and service sectors, as the rates of contraction accelerated in both cases.

The services Business Activity Index fell to 46.9, from 49.2 in March and below the earlier flash estimate of 47.9.

by RTTNews Staff Writer

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