Eurozone Private Sector Gains Momentum In March

Eurozone Private Sector Gains Momentum In March

22 March 2016, 11:53
Roberto Jacobs
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Eurozone Private Sector Gains Momentum In March

The Eurozone private sector activity regained momentum in March as it expanded at the fastest pace since December, flash survey results from Markit showed Tuesday.

The composite output index rose more-than-expected to 53.7 from 53.0 in February. It was forecast to improve to 53.2.

The services Purchasing Managers' Index climbed to 54 from 53.3 a month ago. The expected reading was 53.5.

At the same time, the manufacturing PMI came in at 51.4, up from 51.2 in February and above the expected score was 51.4.

"The March PMI showed a welcome end to the worrying slowdown trend seen in the first two months of the year, putting the region on course for a 0.3% expansion of GDP in the first quarter," Chris Williamson, chief economist at Markit said.

The upturn in March nevertheless hopefully provides a springboard for recent additional stimulus from the ECB to help boost growth further in the second quarter and into the summer, he added.

The material has been provided by InstaForex Company - www.instaforex.com

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