Economic momentum in the euro area unexpectedly picked up in April, with a rebound in services following the end of Covid restrictions making up for stalling manufacturing. A composite gauge for both sectors jumped to a seventh-month high, according to a survey of purchasing managers published by S&P Global. "April saw a two-speed euro-zone economy," Chris Williamson, chief business economist at S&P Global, said Friday. The outlook for the euro-area economy is increasingly uncertain, with Russia's invasion of Ukraine weighing on the region's pandemic recovery. Prices charged for goods and services increased at an "unprecedented rate" this month, according to S&P Global, "hinting that inflation has further to rise."

Source: Irish Independent April 22, 2022 12:15 UTC