Eurozone’s PMI Composite Output Index hit a 8-month high of 52.5 in March, up from 48.8 in February, according to IHS Markit press release. The index signals a return to growth as global demand continued to recover from the pandemic.
Flash Services PMI Activity Index hit a 7-month high of 48.8, up from February’s 45.7 reading.
Flash Manufacturing PMI Output Index rose to a record high since June 1997 to post a reading of 63.0, up from 57.6 in February.
Flash Manufacturing PMI rose to a record high since June 1997 to a reading of 62.4, up from 57.9 in February.
The growth in Eurozone business activity was fueled by a record increase in manufacturing output
The pandemic hit service sector remained in the contraction, although the decline was the weakest since August.
Firm’s costs rose in March at the fastest rate for a decade, pushing prices of goods and services higher.
Germany led service sector performance, recording the first expansion of activity for 6 months
Rising virus infection rates tarnished the business activity sentiment.
European stocks and the Euro are currently declining. DAX is down 0.49%, EURUSD is down 0.18%
