Business activity in the euro area slows in March

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In March, the composite PMI in the euro area, according to preliminary data from IHS Markit, dropped to 51.3 points from the February level of 51.9 points. The slowdown in business growth in the eurozone is mainly caused by a sharp decline in the manufacturing sector in Germany. The index in the manufacturing sector was 47.6 points against 49.3 points in February, noting a fall for two months in a row. At the same time, the services sector showed a slight decrease in PMI - from 52.8 points to 52.7 points. Experts expect in the second quarter the continuation of the growth weakening in business activity. Preliminary data for Germany showed a drop in the composite PMI index to a minimum in almost 9 years - to 51.5 points against 52.8 points a month earlier. The index in the manufacturing sector showed a record drop to 44.7 points from 47.6 points. In the service sector, a decrease to 54.9 points from 55.3 points was recorded. The composite index in France dropped to 48.7 points from 50.4 points.

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