In April the euro zone integrated PMI plummets to 46.9business shrink aggravate

Composite Purchasing Managers' Index (PMI), announced on Friday (May 4) Markit (Markit,), in April, the euro area 17 countries the private sector commercial activities contraction accelerated sharply.

The index fell to 46.7 from 49.1 in March, lower than the earlier estimate of 47.4. Markit said the euro zone services PMI in April from 49.2 in March dropped to 46.9, lower than the 47.9 preliminary estimates. The index below 50 indicates contraction in.

(Chris Williamson), Williamson, Markit chief economist, said the data show that second-quarter euro zone gross domestic product (GDP) is expected to shrink by 0.5%.

He said: "Following the beginning of the upsurge of the Eurozone business and consumer confidence, significant deterioration in the real economy, this means that the European Central Bank (ECB) to implement the stimulus measures not yet have a lasting impact." ■