The IHS Markit flash eurozone services purchasing managers index in April skidded to a record low of 11.7 from 26.4 in March, while the manufacturing PMI fell to a 134-month low of 33.6 from 44.5. Economists according to FactSet had expected a reading on the services PMI of 24 and 39.2 for manufacturing, on a scale where any reading below 50 indicates deteriorating conditions. The French services PMI fell to 10.4 in April from 27.4 in March, a record low, and the German services PMI dropped to 15.9 from 31.7. The flash estimate is based on around 85% of total PMI survey responses each month.
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