Eurozone industrial growth beats forecasts in March 2023
Business sentiment in the eurozone's industrial sector improved for the third consecutive month in March, despite the recent oil price shock. The purchasing managers' index (PMI) climbed by 0.8 points to 51.6, remaining above the growth threshold and extending the recovery trend.
The second estimate was revised upward by 0.2 points from the initial reading, while economists had on average expected confirmation of the earlier figure. Any reading above 50 indicates expanding economic activity.
