Posted by: youngragingbull | April 4, 2013

Eurozone March services PMI falls; confirms downturn

The eurozone service sector contracted at its fastest pace since late last year in March, the Markit purchasing managers’ index for the sector confirmed Thursday.

Services PMI fell to 46.4 from 47.9 in February and came in slightly below a preliminary reading of 46.5. A figure below 50 indicates a contraction in activity.

The composite PMI, which combines services and manufacturing data, came in at 46.5, matching a preliminary estimate and down from 47.9 in February for the weakest reading since November.

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