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Euro zone business growth boosted by reopened services

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S&P Global's final composite Purchasing Managers' Index (PMI) for the euro zone, seen as a good gauge of economic health, rose to 55.8 in April from March's 54.9, matching a preliminary estimate.

Business activity in the euro zone accelerated last month as the bloc's dominant services industry took advantage of a further loosening of Covid-19 restrictions.S&P Global's final composite Purchasing Managers' Index , seen as a good gauge of economic health, rose to 55.8 in April from March's 54.9, matching a preliminary estimate.

That comes after a factory PMI for the region fell to a 15-month low of 55.5 in April, a sister survey showed on Monday. That is likely to raise bets the European Central Bank will tighten policy as inflation in the currency union was 7.5% last month, preliminary official date showed last week, almost four times the ECB's 2% target.

 

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