09:00 AM GMT, Euro Zone – PMI Data for March:
- HCOB Eurozone Composite PMI: actual 50.4; forecast 50.8; previous 50.2;
- HCOB Eurozone Manufacturing PMI: actual 48.7; forecast 48.3; previous 47.6;
- HCOB Eurozone Services PMI: actual 50.4; forecast 51.2; previous 50.6;
Eurozone business activity expanded slightly in March, with the HCOB Flash Composite PMI rising to 50.4, marking the fastest growth since last August, albeit below market expectations (51.2). The expansion was driven by manufacturing output returning to growth for the first time in two years. Employment remained stable despite job losses in Germany and France, inflationary pressures softened.
However, new orders continued to decline and business confidence dipped for the second consecutive month, reflecting subdued optimism in both manufacturing and services. Services came in lower than expected, hidnered by sluggish demand and weak pricing power.
Source: xStation5
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