Eurozone March composite PMI weaker than anticipated
The lower index was attributed to weaker readings from France and Italy. According to Markit, France’s composite PMI was reported at a reading of 50 while Italy’s composite PMI fell to its lowest level in 12 months. Meanwhile, Germany’s composite index also posted its slowest pace of growth in eight months in March in the face of persistently sluggish external demand, especially from emerging markets. Markit also reported that the index for new business growth in the eurozone fell to a 14-month low of 52.7 in March from February’s 53.4.
Economists commented that the eurozone closed the first quarter on a weakening note, raising concerns over the economy.
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