Survey shows eurozone economy loses more momentum in April
{{#rendered}} {{/rendered}}A closely watched survey is showing that the 19-country eurozone economy lost further momentum in April.
Financial information firm IHS Markit said Monday that its composite purchasing managers index — a broad gauge of economic activity — fell modestly to 51.5 in April from 51.6 in May. Although the index remains above the 50 no-change mark, it is pointing to fairly lackluster quarterly growth of 0.2%.
A more detailed look at the monthly survey, which is monitored by rate-setters at the European Central Bank, showed the manufacturing sector in its steepest downturn since 2013 and overall growth held up by the services sector.
{{#rendered}} {{/rendered}}The eurozone has been hobbled by rising trade tensions between the United States and China, higher oil prices and uncertainty over Britain's impending departure from the European Union.