- Eurozone manufacturing PMI fell to 45.7 in March, below estimates of 47.0
- The bloc's services PMI rose to 51.1 in March, compared to the expected 50.5.
- EUR/USD heads towards 1.0850 after German PMI and Eurozone data.
The slowdown in activity in the Eurozone manufacturing sector continued, while the services sector continued to expand in March, according to data from the latest HCOB Purchasing Managers Index survey released Thursday.
He Eurozone manufacturing Purchasing Managers' Index (PMI) stood at 45.7 in March, compared to the consensus forecast of 47.0 and the 46.5 recorded in February. The index fell to its lowest level in three months.
He Block services PMI rose to 51.1 in March from 50.2 in February, hitting a new nine-month high and exceeding the estimate of 50.5.
The index Eurozone HCOB Composite PMI rose to 49.9 in March, compared to the expected 49.7 and 46.3 in February. The index also hit a nine-month high.
EUR/USD Reaction to Eurozone PMI Data
EUR/USD is consolidating the latest move lower near 1.0890 following mixed Eurozone PMI data. At the time of writing, the pair is down 0.25% on the day.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
