Economic growth in the eurozone accelerated in March and hit a 10-month high, according to a closely watched survey published on Friday, despite turmoil in the markets and concerns over banks.
The S&P Global Flash Eurozone purchasing managers’ index (PMI) showed the indicator at 54.1, up from 52.0 in February, thanks to the services sector. A reading over 50 represents growth in economic activity.
Recession fears are receding in Europe after worries of a difficult winter due to sky-high energy prices following Russia’s invasion of Ukraine last year.
Inflation remains much higher than policymakers’ target but eurozone consumer prices have also fallen in recent months.— AFP
