2023-04-05 04:07:27 ET
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Services PMI In the Euro Area increased to 55 points in March
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This was up from 52.7 in February and signaled a strong increase in output across services firms.
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The rate of growth was the fastest since May 2022.
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March survey data pointed to a solid expansion in demand for eurozone services.
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Overall, new business volumes have risen for three successive months.
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The latest increase was stronger than the long-run average and the quickest for ten months. from 52.70 points in February of 2023.
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Both the headline and composite readings are at 10-month highs as the euro area economy caps off Q1 with three straight months of expansion.
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Euro area Services PMI at 55.0 March, fastest growth since May 2022