Eurozone service industry performance growth accelerated in March

By: Trademagazin Date: 2025. 04. 03. 11:30

The growth rate of the eurozone’s services sector performance accelerated in March, according to a joint survey by S&P Global Market Intelligence and Hamburg Commercial Bank AG, released on Thursday. The composite BMI indicates strengthening economic activity in the region, thanks to the previously reported improvement in the performance of the manufacturing sector.

The services sector purchasing managers’ index (BMI) improved to 51 points in March, a two-month high, from 50.6 points in February. Expectations were for a weakening indicator of 50.4 points for March.

The eurozone’s services sector increased its performance for the fourth consecutive month in March.

A BMI value below 50 points indicates a decline in the performance of the economic activity under review, while a value above 50 points indicates an increase.

According to data released on Tuesday, the eurozone’s manufacturing BMI improved to 48.6 points in March from 47.6 points in February.

The composite BMI, which includes data from the service and manufacturing industries, rose to 50.9 points in March, a seven-month high, from 50.2 points in February, exceeding the expected 50.4 points.