Seeking Alpha

Eurozone business sector enjoys broad growth

  • Eurozone services PMI slipped to 52.2 (flash 52.4) in March from 52.6 in February.
  • Composite output edged down to 53.1 (flash 53.2) from 53.3.
  • The surveys indicate that the eurozone's recovery is broad, say Markit. Irish PMI hit a seven-year high of 59 and France a 31-month peak of 51.8, but German growth softened.
  • Still, the eurozone enjoyed the best quarter for PMI in three years in Q1, with the surveys indicating GDP growth of 0.5%.
  • Weakening price indices are a concern amid fears about deflation, although the survey also shows that companies have become leaner, more productive and therefore more competitive.
  • The euro is flat at $1.3765. (PR)
  • ETFs: FXE, VGK, EUO, FEZ, ERO, EU, IEV, EPV, EUFN, EZU, HEDJ, DRR, FEU, EUFX, FEP, ULE, UPV, IFEU, URR, ADRU, FEEU, EURL, EURZ, DBEU, FIEU
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