Brussels... The composite Purchasing Managers' Index (PMI) for the euro area, issued by S&PGlobal, fell to 48.6 points this month, compared with 50.7 points in March ... .
Demand for services sank but was contradicted by an unexpected rise in manufacturing momentum ... The manufacturing PMI was 52.2, up from March's 51.6, confounding poll expectations for a fall to 50.9 ... But factories faced soaring production costs ... .
Traders and investors now focus on the upcoming US flash S&PGlobalPMI for April ... When is the US Flash S&P Global PMI for April Released?. The US flash S&P Global PMI for April is typically published in the third week of the month.
The GBP/USD currency pair finds a footing today as fresh UK PMI data injects support into the Pound Sterling... UK PMI Data Provides CriticalSupport for GBP/USD ... The UK services PMI, a key gauge of the dominant sector, prints a robust figure.
This sharp decline follows the release of solid UK Purchasing Managers’ Index (PMI) data, which significantly boosted the British pound... The services PMI jumped to 54.9, while manufacturing edged up to 49.0, signaling a broad-based recovery.