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Euro area private sector expansion stabilizes in April

Posted by Ahmed Mamdouh On 4/23/2018 1:03:39 AM In Forex_News

Euro area private sector signaled a stabilization in the expansion pace in April, according to the flash Purchasing Managers’ Index released on Monday.

Markit’s Composite PMI of manufacturing and services lingered at 55.2 this month, coming below forecasts of 55.7.

Manufacturing PMI retreated to 56.0 from 56.6, while the services gauge inched up to 55.0 from a revised of 54.9.

The reading was buoyed by strong figures from the region’s two biggest economies, Germany and France.

The upbeat data comes ahead of the European Central Bank's monetary policy meeting later in the week.

As of 08:07 GMT, the euro widened its losses to $1.2258, compared to the session’s open at $1.2271.

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