By Andreas Plecko
Dow Jones-the Euro zoneEconomy recorded growth in March for the third time in a row, but overall it only went up again with trippil steps. The collection index for production in the private sector – industry and service provider – increased to 50.4 points of 50.2 in the previous month, as S&P Global reported in the course of the first publication. Economists surveyed by Dow Jones Newswires had predicted an increase to 50.7 points.
Above 50 points, the economic barometer signals growth, including it indicates a shrinkage. The purchasing manager index of the manufacturing trade rose to 48.7 points from 47.6 in the previous month. Economists had predicted an increase to 48.2 points. The index for the service sector dropped to 50.4 points from 50.6 in the previous month. Economists had expected a value of 51.0 points.
Germany continued to be on the upper and reported – not least thanks to the new expansion of industrial production – the strongest economic growth in ten months. France’s economy, on the other hand, shrank the seventh month in a row, but not quite as strong as in February. In the remaining countries recorded by the survey, the 15th time was in a row and again solidly upwards.
“We can perhaps see the first green shoots in the industry in time at the beginning of spring,” commented Cyrus de la Rubia, chief economist from the Hamburg Commercial Bank. “Although it is only a single monthly value, it is noteworthy that the manufacturers have expanded their production for the first time since March 2023. It is also encouraging that the index value has increased three months in a row. This is supplemented by a significantly weaker decline in the order inputs and employment.”
Contact with the author: [email protected]
Website: https://www.pmi.spglobal.com/public/release/Pressreleases
DJG/Apo/Sha
(End) Dow Jones Newswires
March 24, 2025 05:09 ET (09:09 GMT)