Eurozone Manufacturing Growth Improves In March
Eurozone manufacturing growth improved more than initially estimated in March, final data from Markit showed Friday.
The factory Purchasing Managers' Index rose to 51.6 in March from 51.2 in February and above the flash score of 51.4.
However, this still represented the second-weakest improvement in manufacturing conditions for just over a year, Markit noted.
"The data suggest manufacturing grew by only around 0.2 percent in the first quarter, acting as a drag on the wider economy," Chris Williamson, chief economist at Markit, said.
Data showed that the weakness was largely centered on the 'core' countries of France and Germany.
Germany's factory PMI came in at 50.7 in March, up from February's 50.5. This was the second-weakest reading in 16 months. Nonetheless, it was above the flash score of 50.4.
In France, manufacturing activity returned to negative zone in March. The manufacturing PMI fell to 49.6, in line with preliminary estimate, from 50.2 in February.
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