Business activity in the eurozone stabilised in March thanks largely to a “modest recovery” in the service sector, a closely watched survey showed Thursday.
The HCOB Flash eurozone purchasing managers’ index (PMI) published by S&P Global stood at 49.9 in March, up from 49.2 in February, itself revised up from an initial reading of 48.9.
A figure below 50 indicates contraction. The latest reading — though right on that threshold — was the highest registered in nine months.
“Business activity in the euro area came close to stabilising in March” with “only a marginal decline in output of goods and services”, the survey said.—AFP
