The growth rate of the euro area’s economic performance slowed down in March

Instead of the expected strengthening, the growth rate of the euro area’s economic performance slowed down in March, according to a report published on Friday by the London-based IHS Markit, Institute for Economic Research.

In March, the purchasing manager index (PMI) of the euro area fell to 51.3 points from the 51.9 points of February. The market expected an improvement of 52.0 points.

The service industry PMI dropped from 52.8 points to 52.7 points, while the manufacturing PMI fell sharply to 47.6 points, the lowest since April 2013, to a low of 71 months from the 49.3 points of February. (MTI)