Eurozone March flash PMI weakest since start of 2017

According to the flash IHS Markit Eurozone PMI, released this Thursday, Eurozone business activity grew at its slowest rate for over a year in March. 

Key findings:

   •  Flash PMI Composite Output Index at 55.3 (57.1 in February), 14-month low.

   •  Flash Services PMI Activity Index at 55.0 (56.2 in February), 5-month low.

   •  Flash Manufacturing PMI Output Index at 56.1 (59.6 in February), 14-month low.

   •  Flash Manufacturing PMI at 56.6 (58.6 in February), 8-month low. 

Commenting on the flash PMI data, Chris Williamson, Chief Business Economist at IHS Markit said: “While the first quarter average PMI reading remains relatively robust, indicative of GDP rising by 0.7-0.8%, the loss of momentum since the buoyant start to the year has been quite dramatic.”