Economic Buzz: Eurozone Manufacturing PMI Slows In March

1 Apr 2022 , 04:19 PM

Eurozone manufacturing Purchasing Managers Index fell to 56.5 in March from 58.2 in February, final survey results from S&P Global showed on Friday. This was the slowest growth faced by producers since the beginning of 2021. The survey showed that amid surging commodity, fuel and energy costs, input price inflation re-accelerated to a four-month high. To offset margin pressures, eurozone manufacturers raised their charges to the greatest extent in the series history. Growth momentum in new orders eased notably as geopolitical tensions led to increased hesitance among clients. Export demand declined during March for the first time since June 2020. The survey showed a significant decline in business confidence in March. Manufacturing employment grew at a pace stronger than the series average, but the weakest since February 2021.

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