Eurozone business activity at 10-month high in March
The Eurozone Purchasing Managers' Index (PMI) Composite Output Index, which calculated the combined results achieved in the services and manufacturing sectors, is expected to come in at 54.1 in March, its ten-month high, S&P Global revealed in its preliminary report published on Friday. The figure stood higher than analysts predicted.
The Services PMI Activity Index is also expected to reach its 10-month high at 55.6. On the other hand, the Manufacturing PMI and Manufacturing Output Index are both predicted to fall to their four and two-month low of 47.1 and 49.9, respectively.
"Growth has been buoyed since the lows of late last year as recession fears and energy market worries fade, inflation pressures ease and the unprecedented supply chain delays ... are replaced with record improvements. ... Growth is also very unbalanced ... with manufacturing largely stalled and struggling to sustain production in the face of falling demand," S&P Global Chief Business Economist Chris Williamson commented.