Business activity in the Eurozone grew at the fastest rate for almost four years in March, according to a survey of buyers across the countries using the currency.
The Markit Eurozone Purchasing Managers’ Index (PMI) rose to 54.1 in March, compared to 53.3 in February and against a no-change reading of 50, according to a “flash estimate” based on an expected 85 per cent of typical monthly responses. The index is a composite of PMIs across sectors and countries.
The growth was driven by an increase in new orders and was broad-based across sectors.
Input prices saw the largest monthly increase since last July, in part because of a stronger dollar and weaker euro increasing the price of imports from the US – as well as higher staff costs.