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FINWIRES

Flash PMI: Eurozone Private Sector Activity Contracts in April Amid Middle East Conflict

-- The euro area's private sector output fell for the first time in 16 months in April, with a decline in new orders for the second straight month amid the ongoing war in the Middle East

The seasonally adjusted S&P Global Flash Eurozone Composite PMI Output Index hit a 17-month low of 48.6, below the previous 50.7 and expected 50.2, flash data from S&P Global showed Thursday.

Meanwhile, the services PMI reached a 62-month low of 47.4, against the earlier reading of 50.2 and the market forecast of 49.8. On the manufacturing side, the PMI rose to a 47-month high of 52.2 from the prior month's 51.6 and the Investing.com consensus estimate of 50.9.

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