Eurozone: Composite PMI likely to increase to 56.6 in April from 56.4 in March - Nomura

The research team at Nomura expects the euro area composite PMI to increase to 56.6 in April from 56.4 in March.

Key Quotes

“At the sector level, we expect another month of broadbased improvement, with both manufacturing and services sector PMIs increasing in April. Specifically, we expect the manufacturing PMI to increase for an eighth consecutive month to 56.4 in April from 56.2 in March.”

“We also expect the services PMI to edge up to 56.1 in April from 56.0 in March, following strong increases over the past two months. These readings would indicate another strong quarter of 0.6% q-o-q (borderline 0.7%) GDP growth in Q2.”