Eurozone Composite PMI: Broad-based easing in rates of contraction evident in March
Apr 3rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The final Markit Eurozone Composite Output PMI (Purchasing Managers' Index) showed the largest monthly rise in points terms since October 2003, up from 36.2 in February to 38.3 in March (and also posting a stronger reading than the Flash estimate of 37.6), to signal an easing in the rate of contraction of private sector output from the record fall seen in February. However, the index merely regained the level seen in January, indicating a further steep drop in output. Output has now fallen for ten consecutive months.
