Economic activity in the euro area picked up more than expected
The economic performance of the euro area improved to a greater extent than expected in March, but this can be attributed almost exclusively to business activity in the service industry, based on the preliminary values of the purchasing manager index (BMI) of the London-based S&P Global Market Intelligence economic research institute.
The preliminary value of the composite BMI index for March, which follows both manufacturing and service industry data, rose to 54.1 points, a ten-month high, from 52.0 points in February, instead of the expected decrease of 51.9 points.
The preliminary March value of the service industry BMI was 55.6 points, a 10-month peak after February’s 52.7 points and instead of the expected decrease of 52.5 points.
The manufacturing BMI, on the other hand, fell to 47.1 points, a four-month low, in March from 48.5 points in February. Here, however, the experts expected an improvement of 49.0 points.
Related news
The unemployment rate rose to 4.7%
In the three months between December 2023 and February 2024,…
Read more >GKI expects slower growth, higher inflation and a larger public budget deficit than the government thought
The Hungarian economy entered a protracted recession in 2023, while…
Read more >Increasing company founding activity in the shadow of rising new procedures
There was a definite increase in the willingness to start…
Read more >Related news
Seven trends shaping in-store marketing and retail design in 2024
Smart brands know that in-store marketing and store design can…
Read more >2024 is a year of challenges for the tobacco industry and retail
Annual tobacco retail sales are expected to have increased in…
Read more >The latest issue of Trade magazine is out now!
The digital version is available with more content once again,…
Read more >