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European autos sector continue to fall sharply in April

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Christian Fernsby |
European autos sector
Europe   The European automobiles and auto parts sector remained in a strong downturn

European Sector PMI indices are compiled from responses to IHS Markit's European PMI surveys, covering over 8,000 private sector companies in 11 countries.

Indices are available for the basic materials, consumer goods, consumer services, financials, healthcare, industrials and technology industry groups, and sub-sectors of these groups.

The European automobiles and auto parts sector remained in a strong downturn in April.

Output, new orders and employment all fell sharply since March, and negative contributions from indicators for suppliers' delivery times and stocks of purchases drove the headline PMI figure for the sector to a 76-month low of 43.2.

Moreover, output expectations at autos and parts firms were the most pessimistic since November 2012.

Other sectors to record falling output in April were primarily in manufacturing, notably metals and mining and chemicals.

The former posted the strongest decline since November 2012.

Media was the only services sector to post an outright drop in business activity, while banks and the two healthcare-related sectors registered broadly no change since March.

At the other end of the growth spectrum, beverages and food posted another strong increase in output in April, while software and services posted the sharpest expansion in three months.

This took the wider technology group to the top of the broad sector rankings, despite a slight drop in technology equipment production.

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