BUSINESS ACTIVITY IN THE EURO ZONE REACHED ITS HIGHEST LEVEL SINCE SEPTEMBER
The results of a survey conducted by Markit Economics showed an increase in activity in the Euro zone. The PMI, calculated for the industrial sector and the service sector of the region, rose in March compared to the previous month by 3.7 points. It was 52.5 points. Analysts had expected an increase of only 0.3 points to 49.1 points. The growth of business activity was recorded both in the industrial sector and in the service sector. The EUR zone manufacturing PMI increased 4.5 points this month to 62.4 points, which was a historic record for this indicator. Analysts had expected it to decline compared to the February level. The PMI in the service sector reached a record high for a 7-month period. It rose 3.1 points to 48.8 points in March. Analysts had expected the index to rise, but only by 0.3 points. The business activity index, calculated for industry and services in Germany, showed an increase to 56.8 points, which is 5.7 points higher than in February. The PMI in the German industry rose to the level of 66.6 points, in the service sector - to 50.8 points.