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Eurozone Composite PMI Hits 10-Month Low
(MENAFN) The composite purchasing managers index (PMI) in the euro area, which registered 51.9 in February, dropped to 50.5 in March, representing its lowest point in 10 months, according to data provider S&P Global on Tuesday.
Meanwhile, the manufacturing PMI increased to 51.4 in March from 50.8 in February, marking a 45-month peak.
Conversely, the services PMI declined from 51.9 to 50.1 over the same timeframe, reaching a 10-month trough.
A PMI value above 50 signifies sector expansion, whereas a reading below that threshold indicates a contraction.
The statistics highlighted that production growth nearly stalled, primarily due to a reduction in new orders within the Eurozone private sector.
Additionally, input cost inflation surged sharply following events in the Middle East, climbing to its highest level in more than three years.
Meanwhile, the manufacturing PMI increased to 51.4 in March from 50.8 in February, marking a 45-month peak.
Conversely, the services PMI declined from 51.9 to 50.1 over the same timeframe, reaching a 10-month trough.
A PMI value above 50 signifies sector expansion, whereas a reading below that threshold indicates a contraction.
The statistics highlighted that production growth nearly stalled, primarily due to a reduction in new orders within the Eurozone private sector.
Additionally, input cost inflation surged sharply following events in the Middle East, climbing to its highest level in more than three years.
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