BREAKING: EU services PMI data better than expected 🎯

08:15 AM BST, Spain - PMI Data for April:

• HCOB Spain Services PMI: actual 56.2; forecast 56.0; previous 56.1;

08:45 AM BST, Italy - PMI Data for April:

• HCOB Italy Services PMI: actual 54.3; forecast 54.7; previous 54.6;
• HCOB Italy Composite PMI: actual 52.6; previous 53.5;

08:50 AM BST, France - PMI Data for April:

• HCOB France Composite PMI: actual 50.5; forecast 49.9; previous 48.3;
• HCOB France Services PMI: actual 51.3; forecast 50.5; previous 48.3;

08:55 AM BST, Germany - PMI Data for April:

• HCOB Germany Services PMI: actual 53.2; forecast 53.3; previous 50.1;
• HCOB Germany Composite PMI: actual 50.6; forecast 50.5; previous 47.7;

09:00 AM BST, Euro Zone - PMI Data for April:

• HCOB Eurozone Services PMI: actual 53.3; forecast 52.9; previous 51.5;
• HCOB Eurozone Composite PMI: actual 51.7; forecast 51.4; previous 50.3;

In April, Euro zone business activity saw its most rapid expansion in nearly a year, driven primarily by a strong resurgence in the services sector which helped offset a continuing decline in manufacturing. The composite Purchasing Managers’ Index (PMI) rose to 51.7 from 50.3 in March, indicating growth and marking the highest rate since the previous May. The services PMI increased significantly, with employment and new business also showing robust gains, signaling sustained positive momentum and optimism for future output. In contrast, manufacturing continued to worsen, underscoring the growing divide between the two sectors.