Activity in the British service sector increased substantially in March, but was slightly below forecast. This was shown on Wednesday by figures from Markit.
The Purchasing Managers Index was 56.3 in March, compared to 49.5 in February. The forecast was an index of 57.0. Last week, it was reported that the Purchasing Managers Index for British industry rose from 55.1 in February to 58.9 in March.
Activity in the services sector in the euro area barely contracted in March. The Purchasing Managers Index measuring activity was 49.6 in March, compared to 45.7 in February. An index of 48.8 was anticipated in advance.
Last week, it was reported that the Purchasing Managers Index for the currency union industry rose from 57.9 in February to 62.5 in March.
Activity in the German service sector grew again in March, and more than expected. The activity index was 51.5 in March compared to 45.7 in February. An index of 50.8 was expected in advance. Last week, it was reported that the Purchasing Managers Index for German industry rose from 60.7 in February to 66.6 in March.
The composite index was 53.2 compared to 48.8 in February and 52.5 in a provisional measure.
