Euro zone factory downturn deepens

Euro zone factory activity contracted further last month, albeit not by as much as initially thought, while the cost of raw materials fell at the fastest pace in nearly three years, a survey showed on Tuesday.

The HCOB final manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 45.8 in April from March's 47.3, just beating a preliminary reading of 45.5 but well below the 50 mark separating growth from contraction for a 10th consecutive month.