FX.co ★ Eurozone PMI data below forecasts

The flash composite PMI for the eurozone from Markit Economics fell to its lowest level in two months in April of 2016.
According to Markit, the euro area saw a composite PMI reading of 53 in April of 2016, down from 53.1 in March and below market expectations of 53.3. A PMI reading of 50 or more represents expansion, while a reading under 50 signals contraction.
The flash manufacturing PMI for the eurozone was 51.5 in April from 51.6 in March. Meanwhile, services PMI rose to 53.2 from 53.1.
The German composite PMI was 53.8 in the reported period, down from 54 in March, hitting a nine-month low. The manufacturing PMI came in at 51.9, up from 50.7 in March, while the German services PMI fell to 54.6 from 55.1.
The French composite index stood at 50.5 in April, above March's reading of 50. The manufacturing PMI declined to 48.3 from 49.6, the lowest level in eight months. The services sector improved in April from 49.9 to 50.8.