The ECB's 'aggressive stimulus' is finally driving a European recovery
- Composite PMI: 53.0, in line with the flash estimate, but down 0.1 from March's 53.1 reading.
- Services PMI: 53.1, down from the 53.2 flash estimate, but flat since March
- German Composite: 53.6, an 11-month low and down from 54 in March.
- German Services: 54.5, down from 55.1 in March to a six-month low.
- French Composite: 50.2, up from 50 in March to a three-month high.
- French Services: 50.6, a five-month high, and out of contraction. The March reading was 49.9.
- Italian Services: 52.1, a beat on the 51.7 reading expected, and well up from March's 13-month low of 51.2.
- Spanish Services: 55.1, down from 55.3 in March, but ahead of the 55 expected.
- Greek Manufacturing: 49.7, still in contraction, but closer to expansion than March's 49 figure.
"Overall, our measures in place since June 2014 have clearly improved borrowing conditions for firms and households" Draghi said at a press conference after the ECB left all of its bases rates unchanged on April 21.