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Eurozone business activity cools slightly

  • Eurozone flash manufacturing PMI has slipped to 53 in March from 53.2 in February and missed consensus that was also 53.2.
  • Services declined to 52.4 from 52.6 and vs 52.6.
  • Composite output fell to 53.2 from 53.3 and vs 52.6.
  • Manufacturing output edged up to 55.4 from 55.3.
  • The eurozone enjoyed its best quarter for business activity since Q2 2011, says Markit, with the PMI survey signalling a 0.5% increase in Q1 GDP after growth of 0.3% in Q4.
  • However, deflation remains a concern, Markit adds, especially in the periphery. With prices falling again in March, the argument for further stimulus remains, "especially if the rate of growth of activity cools again in April."
  • The euro is flat at $1.3788. (PR)
  • ETFs: FXE, VGK, EUO, FEZ, ERO, EU, IEV, EPV, EUFN, EZU, HEDJ, DRR, FEU, EUFX, FEP, UPV, ULE, URR, ADRU, FEEU, EURL, DBEU, EURZ, FIEU
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