Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Home

Spain and Italy gave a big boost to Europe's PMIs in April

Europe fans
Team Europe golf fans wave flags on the first tee during the morning foursomes round at the 39th Ryder Cup matches at the Medinah Country Club in Medinah, Illinois, September 28, 2012. REUTERS/Matt Sullivan

Europe's recovery continued still ticking along in April, according to the latest purchasing managers' indices (PMIs). 

Advertisement

The score was led by positive surprises in some of the harder-hit countries in southern Europe.

Analysts were expecting an improvement for Spain and Italy, but at 60.3 (the strongest since 2006), Spain's was much stronger than even bullish economists foresaw.

Italy's result is solid too. At 53.1, it's the second-strongest in more than four years. Jobs are being created at the fastest pace since 2007, according to the survey.

Advertisement

Declines in the bloc's two biggest economy, Germany and France, dragged the index down. We've already had the "flash" readings for those two countries, with both showing a minor deteriorating in growth during April.

  • Spain: 60.3 (57.3 in March, 57.4 expected)
  • Italy: 53.1 (51.6 previously, 52 expected)
  • France: 51.4 (52.4 previously, 50.8 expected)
  • Germany: 54 (55.4 previously, 54.4 expected)
  • Eurozone: 54.1 (54.2 previously, 53.7 expected)

Read next

Advertisement
Close icon Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.

Jump to

  1. Main content
  2. Search
  3. Account