Published: March 24 2023
Summary: The economic activity in the Euro zone has increased more than expected in March, but is largely attributed to improved business activity in the service sector. The preliminary values of the purchasing managers' index (BMI) for the processing industry and the service industry show that the composite BMI index rose to 54.1 points in March, a ten-month high after a decline was expected. Although the service BMI has increased to 55.6 points, a ten-month high, the processing BMI has decreased to 47.1 points, a four-month low. The values are an indication of growth for the economic activity above or below 50 points, respectively.
Key points:
- The economic activity in the Euro zone has increased more than expected in March
- The preliminary values of the purchasing managers' index (BMI) for the service sector show that the BMI index rose to 55.6 points, a ten-month high
- The processing BMI has decreased to 47.1 points, a four-month low
- The values of 50 points indicate growth above it and shrinkage below it for the economic activity
Source article:
This summary was created using AI, so there may be some inaccuracies. Always check the original linked article to be sure.
