In April, the economic performance of the euro area expanded at the fastest rate in almost a year

The composite BMI indicator, which includes both manufacturing and service industry performance data in the euro area, rose to 51.7 points, an 11-month high, for April instead of the expected 51.4 points and after the previous month’s 50.3 points in March. In February, the index was still at 49.2 points.

A BMI value above 50 points indicates an increase in the performance of the analyzed economic sector, and a value below 50 points indicates a contraction.

One of the components of the composite BMI, the index of the service industry, instead of the expected 52.9 points, rose to 53.3 points, also an 11-month high, for April from 51.5 points in the previous month.