India, May 2 -- Euro area factory activity contracted at a slower pace in April as production grew at the fastest pace in more than three years, final data of the purchasing managers' survey by S&P Global showed Friday.
The HCOB manufacturing Purchasing Managers' Index rose to a 32-month high of 49.0 in April from 48.6 in March. The score was also above the flash estimate of 48.7.
"A fourth consecutive increase in the HCOB PMI can be seen as a sign that the situation in the manufacturing sector is stabilizing," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said.
"Industrial activity remains highly exposed to US tariff policy, but the planned sharp increase in defence spending in the EU could help stabilize the situation in th...