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Euro zone business growth got boost from reopened services in April -PMI

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People enjoy an evening drink at Place de la Contrescarpe in Paris as cafes, bars and restaurants reopen after closing down for months amid the coronavirus disease (COVID-19) outbreak in France, May 19, 2021. REUTERS/Sarah Meyssonnier

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LONDON, May 4 (Reuters) – Business activity in the euro zone accelerated last month as the bloc’s dominant services industry took advantage of a further loosening of COVID-19 restrictions, offsetting a near-stall in manufacturing output growth, a survey showed on Wednesday.

S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good gauge of economic health, rose to 55.8 in April from March’s 54.9, matching a preliminary estimate. Anything above 50 indicates growth.

“The euro zone economy has shown surprising resilience in the face of the Ukraine-Russia war, thanks to a renewed burst of service sector activity as virus…

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