Eurozone’s private sector continued to show signs of stabilization in March, with PMI Composite finalized at 50.9 — the highest in seven months — up from February’s 50.2. PMI Services was finalized at 51.0, up from prior month’s 50.6.
Among the major economies, Germany stood out with a 10-month high at 51.3, while France remained in contraction despite improving to a five-month high at 48.0.
Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank, acknowledged that recession fears that loomed late last year are now giving way to cautious optimism. The Eurozone has managed to stay in growth territory for three straight months.
Still, he warned that this fragile recovery could be easily thrown “off course again” by external shocks — namely, the newly announced US reciprocal tariffs.
