Mumbai, April 23 -- The eurozone private sector slipped into contraction in April, ending a 15-month period of growth, according to the latest flash PMI data. The Composite Output Index fell from 50.7 in March to 48.6, dropping below the 50.0 mark for the first time in 16 months.
The decline was mainly driven by the services sector, where activity fell for the first time in nearly a year and at the fastest pace since February 2021. In contrast, manufacturing output continued to grow for the fourth straight month, reaching its strongest level since last August, partly due to firms building safety stocks.
The downturn was broad-based across the region. Germany saw its first drop in activity in 11 months, while France recorded its sharpest d...