Forex: Eurozone Purchasing Managers Index slips to 57.7

Important: This page is part of archived content and may be outdated.

The Manufacturing Purchasing Managers Index for the month of March in the Eurozone has been released by the Markit Economics. The announced figure of 57.7 was slightly lower than the market expectation of 58.3 and from the previous reading of 59 of February. This indicates some weakness to excel in the Manufacturing Industry as the rate slipped to lower lever

The Manufacturing Purchasing Managers Index shows business conditions occurring in the manufacturing sector. With the manufacturing sector being a dominant force in a large portion of the whole Gross Domestic Product this index is a vital indication of a general economic condition. Under normal conditions a value above 50 is regarded as bullish and bellows 50 as bearish for the currency. The EURUSD is currently traded at 1.4104