Eurozone composite PMI to fall to 54.5 in April - Nomura

Analysts at Nomura expect the euro area composite PMI to fall to 54.5 in April, from 55.2 in March.

Key Quotes

“At the sector level, we expect the regional manufacturing PMI to decline to 55.8, from 56.6, and the services PMI to drop to 54.4, from 54.9. Strikes in Germany and France have acted as a drag on economic activity, and heightened uncertainty about protectionism has weighed on market sentiment. Nevertheless, we note that the overall level of these indicators is likely to remain high. Further, we expect some rebound in coming months as some of these recent and temporary restraints reverse.”