India, April 1 -- Downturn in the euro area manufacturing slowed in March as output expanded for the first time in two years, signaling a recovery in the sector, final results of the latest purchasing managers' survey by S&P Global showed on Tuesday.
The HCOB manufacturing Purchasing Managers' Index rose to 48.6 in March from 47.6 in the previous month. The flash score was 48.7.
The index signaled a decline that was only moderate and the softest since January 2023.
"Things are looking up," Hamburg Commercial Bank Chief Economist Cyrus de la Rubia said.
The PMI increased for the third consecutive month and the output index even surpassed the threshold for growth, the economist noted.
De la Rubia said a significant part of this improveme...