Data show worsening downturn in eurozone economy

Markit Group's index for eurozone purchasing managers has fallen to 46.5 this month, from 47.9 in February, suggesting accelerated economic contraction. "The sharp decline in the flash composite PMI in March pours cold water on hopes of an imminent end to the eurozone recession," ING economist Martin van Vliet said. "If the situation surrounding Cyprus spirals out of control, the onset of recovery might well be delayed."

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