Manufacturing activity in the eurozone fell to 6-year low in March

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According to the final data of IHS Markit, the index of business activity of the manufacturing sector in the eurozone in March fell to its lowest level since April 2013, reaching 47.5 points. In February, its value was at 49.3 points. The weakening of business activity in the manufacturing sector has been observed for eight months in a row. The indicator that determines the change in the volume of production has also reached the lowest level in 6 years. Its value dropped to 47.2 points from 49.4 points. Experts believe that the sentiment in the business environment was influenced by the change in the European Central Bank's forecast for economic growth, as well as its intention to offer banks a new round of cheap loans to revive the economy. The rate of decline in new orders in March became the most significant over the past 6 years. Optimism about prospects for the next 12 months fell sharply.

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