The euro area manufacturing activity grew at the slowest pace in eight months in March, data from IHS Markit showed.
The manufacturing Purchasing Managers' Index (PMI) for the eurozone declined to 56.6 in from 58.6 in the previous month. The data matched analysts’ expectations.
Germany, the Netherlands, and Austria boasted the best performing manufacturing sectors last month, while the slowest activity was recorded in France and Ireland.
At the same time, employment grew in all eurozone countries. The largest increase in the number of jobs in March was in the Netherlands, Austria and Germany. However, employment growth rates have slowed in all countries.
Eurozone GDP expanded by 0.6% in the fourth quarter of 2017 from the previous quarter. That made 19 quarters of growth in a row.
On an annualized basis, euro area GDP advanced by 2.3%, at the fastest pace since 2007.
However, despite strong economic growth, eurozone inflation remains subdued. According to Eurostat, euro area consumer prices rose by 1.1% year-on-year. Inflation slowed to its lowest since late 2016, following a 1.3% rise in January.
