Eurozone private sector continued to contract in April, but at a less steeper pace than estimated earlier, final results of a survey by Markit Economics showed Monday.
The composite output index, that measures performance of both manufacturing and services, rose to 46.9 from 46.5 in March. The flash reading was the same as that of March. Readings below 50 suggests contraction of the sector.
The services business activity index rose to 47 in April from 46.4 in March. The preliminary report showed a reading of 46.6.
Overall output has now declined throughout the past 15 months, the report said. The level of incoming new business fell at a marked pace during April, though rate of decline eased for the first time since January.
In April, Germany rejoined other big-four nations in contraction territory, Markit said. Ongoing steep downturns were signaled in Spain, France and Italy, although rates of decline eased in the latter two.
Job losses were reported for the sixteenth month running in April, as payroll numbers were cut further in France, Italy and Spain. In Germany, slight increase in employment was reported for a second straight month.
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