Business confidence in the Eurozone plunged in April after Donald Trump’s sweeping tariff announcements, while activity fell close to stagnation, as the US president’s trade war begins to drag on the economic region.
The flash estimate for Hamburg Commercial Bank’s composite Eurozone Purchasing Managers’ Index, compiled by S&P Global, showed that business confidence in April fell to its lowest level since November 2022.
Wednesday’s figures also indicated that economic activity in the Eurozone fell to 50.1 points from 50.9 the previous month, hovering just above the crucial threshold of 50 that separates contraction from expansion.
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