At 46.7 in April, down from 49.1 in March, the Markit Eurozone PMI® Composite Output Index signalled the fastest rate of decline since last October and one of the steepest contractions since mid-2009. The headline index also came in well below its earlier flash estimate of 47.4. Deeper downturns in output were signalled in both the manufacturing and service sectors, as the rates of contraction accelerated in both cases. Both sectors were hit by marked declines in new business. Manufacturers were also hurt by lower levels of new export orders, with trade between Eurozone nations especially weak. National PMI data ... (full story)