The Eurozone economy maintained a solid growth rate in March, slowing down slightly from February’s five-month high as an easing of pandemic restrictions increased business activity.
- The Eurozone composite purchasing managers’ index stood at 54.9 in March, a slight decrease from 55.5 in February, but still pointed to strong growth. Any score above 50.0 signals an expansion.
- Chris Williamson, a chief business economist at S&P Global stated that the strong growth in March would be challenging to maintain, adding there are increased risks of the economy stagnating or contracting during Q2.
- The main driver of expansion was the service sector, where growth increased slightly as manufacturing output rose at a softer rate.
The Eurozone services PMI jumped to 55.6 in March from 55.5 in February, indicating a strong rate of expansion in service sector output at the end of Q1.
EuroSTOXX 50 down -0.81%, EURUSD up +0.07%
Source: S&P Global
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