The growth of the business sector in the Euro zone has come to a halt this month, as revealed by a survey on Wednesday.
The services industry, which plays a dominant role in the bloc’s economy, has seen a contraction, and the manufacturing sector’s long-standing downturn continues.
The preliminary composite euro zone Purchasing Managers’ Index (PMI), compiled by S&P Global for HCOB, experienced a decline this month, dropping to 50.1 from its March reading of 50.9.
The index, which is barely above the 50 mark that distinguishes growth from contraction, fell short of the median estimate of 50.3 as predicted in a poll.
This slowdown in business growth, marked by the contraction in the services sector and the ongoing downturn in manufacturing, indicates a challenging economic environment within the Euro zone.
