Eurozone March Services PMI Final at 49.6... Exceeds Preliminary Estimate

[Image source=EPA Yonhap News]

The final March Purchasing Managers' Index (PMI) for the services sector in the Eurozone (19 countries using the euro) was 49.6, surpassing the preliminary figure of 48.8, according to financial information firm IHS Markit on the 7th.

The figure for February was 45.7.

The PMI uses 50 as the benchmark to gauge expansion or contraction in business conditions. The Eurozone's services PMI remained below 50 for seven consecutive months.

Germany's final March services PMI was recorded at 51.5, exceeding both the preliminary figure (50.8) and the previous month's figure (45.7).

Germany's composite PMI stood at 57.3, the highest level in 37 months, surpassing the initial preliminary figure of 56.8.

In the same month, Italy and France's final services PMI were 48.6 and 48.2, respectively.

Italy's composite PMI was 51.9, the highest in eight months, while France's was 50.0, marking the highest level in seven months.

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