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-UK March Manufacturing PMI 56.6 Vs 58.6 in February
By Jamie Satchithanantham
LONDON (MNI) - Eurozone manufacturing sector activity continued its post
turn of the year slowdown, with activity expansion last lower eight months ago,
the IHS Markit/CIPS Purchasing Managers' Index (PMI) showed.
The final Eurozone manufacturing PMI was 56.6 in March, unchanged from the
earlier flash estimate and down two points from 58.6 in February. Despite the
third consecutive fall since December's series high, and the biggest decline
posted since June 2011, the first quarter average of 58.2 pointed to solid
The stronger performances on the month came from the Netherlands, Germany
and Austria with France's manufacturing expanding at the weakest rate of the
The further easing in the headline PMI, according to IHS Markit, mainly
reflected "slower growth of manufacturing production and incoming new business"
with both respective indicators rising by the smallest extent since November
Meanwhile, growth in new export business, which is not a component of the
headline PMI, slipped to a 15-month low.
"We should not be too worried by the fall in the PMI as some moderation in
the pace of growth from the surge seen at the turn of the year was inevitable,
not least because short-term capacity constraints limit the economy's ability to
grow so quickly for long periods," Rob Dobson, Director at IHS Markit, said.
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