March Purchasing Managers’ Indices published yesterday by IHS Markit showed a drop in the manufacturing sector across the Eurozone – except in the UK where the reading increased from 52.1 in February to 55.1 (stockpiling was blamed). The reading in Germany dropped to 44.1 from 47.6, the lowest score since July 2012 (at the depth of the Eurozone debt/banking crisis); order books and new foreign business both fell at the fastest pace since April 2009. France’s reading fell below the critical 50 point, to 49.7, Spain’s is back above that point at 50.9, while Italy’s is stuck below at 47.4.
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