Lower eurozone PMI for March points to extended recession

03/21/2013 | Bloomberg

A eurozone purchasing managers index declined this month, thwarting expectations of a slight gain as the Markit indicator slid to 46.5 from 47.9 in February. The reading suggests the region remains in recession in the current quarter, which would be the sixth consecutive contractionary period. Economists have forecast a return to growth in the second quarter.

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