Euro zone manufacturing growth eased a little but remained resilient last month, data showed today.
The RBS/NTC Eurozone Purchasing Managers' Index, based on a survey of around 3,000 manufacturers, edged down to a 13-month low of 55.4 in March from 55.6 in February.
But it stayed well above the 50.0 mark separating growth from contraction, showing continued strong expansion despite a slide in global equity markets earlier in March. Economists had predicted a March reading of 55.7.
Jobs growth was solid, and an acceleration in firms' costs should support expectations of at least one more European Central Bank interest rate rise this year, even though new orders and output growth eased.
The ISM US manufacturing survey, due later today, is forecast to edge lower to 51.1 from 52.3. That comes after the Japanese tankan survey showed corporate sentiment worsening for the first time in a year amid growing concerns for the US economy. The British PMI also fell one point to 54.4.