RTTN:Eurozone Private Sector Expands For 9 Straight Months
The euro area economy expanded for the ninth consecutive month in March, but the rate of growth slowed marginally, data from Markit Economics showed Monday.
The composite output index came in at 53.2 in March. The score was slightly lower than February's 32-month high of 53.3 and the expected level of 53.1.
The score above neutral 50 indicates growth in private sector. The euro area economy continued to enjoy its strongest spell of growth since the first half of 2011 in March, Markit said.
The flash services PMI fell to 52.4 from 52.6 in February, when it was expected to drop to 52.5. Similarly, the manufacturing PMI slid to 53.0, in line with expectations, from 53.2 in February.
"The survey is signaling a 0.5% increase in GDP in the first quarter, building on the 0.3% increase seen in the final quarter of last year," Chris Williamson, chief economist at Markit said.
