Área Euro PMI Composto

The HCOB Eurozone Composite PMI rose to 49.9 in March 2024, up from 49.2 in the previous month and slightly surpassing market expectations of 49.7, a preliminary estimate showed. The latest reading was the highest for nine months, and indicated a near-stabilization of business activity, with service sector output rising for the second consecutive month in March after six months of decline. However, manufacturing output continued to decline for the twelfth consecutive month, albeit at a slightly slower pace, resulting in another month of steep contraction. Overall, new orders declined at the slowest rate in ten months, and backlogs of work were depleted at the weakest rate in nine months, while employment saw modest growth. On the price front, input cost inflation slowed to a three-month low, and selling price inflation cooled for the first time in five months after reaching a nine-month high in February. Finally, business confidence improved to its strongest level since February 2023.