Eurozone economic growth accelerates to seven-month high in March

By: Trademagazin Date: 2025. 03. 24. 11:53

The eurozone economy grew at its fastest pace in seven months in March, according to a joint survey by London-based S&P Global Market Intelligence and Hamburg Commercial Bank AG.

Preliminary data released on Monday showed that the eurozone’s composite purchasing managers’ index (PMI) rose to 50.4 in March, its highest level since August, from 50.2 in February. Analysts had expected a better reading of 50.8. The composite indicator has been above 50 since the start of the year.

A reading below 50 indicates a contraction in the economic activity under review, while a reading above 50 indicates an expansion.

The index, which measures the performance of the services sector, fell to 50.4 from 50.6 in February, while analysts had expected the indicator to rise to 51.

The nearly three-year contraction in the manufacturing industry has slowed, with the BMI rising to a more than two-year high of 48.7 points from 47.6 points in February. Analysts had expected a less improving indicator of 48.2 points.