A survey revealed that the eurozone’s recovery from the pandemic-induced economic downturn was much stronger than expected in April as the bloc’s dominant service sector ignored renewed lockdowns and saw a sudden return to growth.<\/p>\n\n\n\n
As the continent faces a new wave of infections with the Coronavirus, governments have re-imposed strict public isolation measures to contain the spread, forcing some companies to close and encouraging citizens to stay at home.<\/p>\n\n\n\n
This means that the economy is expected to recover at a much weaker pace this season than expected a month earlier, according to a Reuters poll last week.<\/p>\n\n\n\n
But the preliminary reading of the IHS Markit PMI, which is considered a good indicator of the resilience of the economy, rose to a nine-month high of 53.7 from 53.2 in March, missing expectations in a Reuters poll for a fall to 52.8. Any reading above the 50 level indicates growth.<\/p>\n\n\n\n
The services PMI rose to 50.3 from 49.6 last month, above the median forecast in a Reuters poll that indicated a drop to 49.1.<\/p>\n","protected":false},"excerpt":{"rendered":"
A survey revealed that the eurozone’s recovery from the pandemic-induced economic downturn was much stronger than expected in April as the bloc’s dominant service sector ignored renewed lockdowns and saw a sudden return to growth. As the continent faces a new wave of infections with the Coronavirus, governments have re-imposed strict public isolation measures to …<\/p>\n","protected":false},"author":9,"featured_media":32815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[36],"tags":[6928,6992,6987],"class_list":["post-44874","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-market-updates","tag-euro","tag-european-union","tag-inflation"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=44874"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44874\/revisions"}],"predecessor-version":[{"id":44875,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/44874\/revisions\/44875"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32815"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=44874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=44874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=44874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}