There are prerequisites for an economic upswing, and fiscal policy decisions compensate more than well for the damages that can be assumed to come from the US's tariff policy. This can be the beginning of a more sustainable recovery, adds Cyrus de la Rubia.
For the entire eurozone, the composite index for the private sector in March totals 50.4 – up from 50.2 in February.
Highest activity level in ten months
This is above the 50-line, which marks the dividing line between increased and decreased activity in the sector. But it was not quite as clear-cut as expected. The average forecast among analysts was 50.7.
The composite index for Germany – Europe's largest economy and a crucial export market for many Swedish companies – rose to 50.9 in March, up from 50.4 in February.
The increase was also here somewhat less than expected, but at the same time the highest level measured for German private sector in ten months.
For the German manufacturing industry, the purchasing managers' index rose to 48.3, compared to 46.5 the previous month. Expectations were at 47.0. For the service sector, there was a decline to 50.2, from 51.1 in February. Expectations were for an increase to 51.6.
France is also starting to turn upwards
Earlier in the morning, figures showed that France's economy is also starting to turn from the bottom.
France's composite index for March rose more than expected to 47.0, compared to 45.1 in February. Expected was an increase to 46.5.
For the French manufacturing industry, the purchasing managers' index for March rose to 48.9, compared to 45.8 in February. Expectations were at 46.4. For the service sector in France, the index rose to 46.6, compared to 45.3 in February and expectations of 46.3.
During the day, corresponding indexes are also expected from the UK, and in the afternoon, an index from the US will also be released.
