Eurozone Growth Stalls as PMI Hits 10-Month Low
According to S&P Global, the eurozone’s composite purchasing managers index (PMI) dropped to 50.5 in March from 51.9 in February—its lowest reading in 10 months.
Manufacturing offered a rare bright spot. The sector’s PMI climbed to 51.4 in March, up from 50.8 the previous month, marking its strongest level in nearly four years.
In contrast, the services sector showed clear signs of strain. Its PMI slipped to 50.1 from 51.9, also hitting a 10-month low and hovering just above the threshold that separates growth from contraction.
A PMI reading above 50 signals expansion, while a figure below that level indicates contraction.
The report highlighted that overall production growth in the eurozone’s private sector nearly stalled, weighed down by a drop in new orders.
At the same time, cost pressures intensified. Input cost inflation surged sharply, driven in part by developments in the Middle East, reaching its highest level in more than three years.
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