Eurozone Preliminary Manufacturing PMI rises to 48.7 in March vs. 48 expected

• Eurozone Manufacturing PMI rose to 48.7 in March, beating 48 forecast.
• Bloc’s Services PMI dropped to 50.4 in March vs. 51 estimate.
• EUR/USD keeps the green near 1.0850 after German, Eurozone PMI data.            

The Eurozone manufacturing sector contraction eased, while service sector activity underperformed in March, according to data from the HCOB's latest Purchasing Managers' Index (PMI) Survey, published on Monday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) improved to 48.7 in March from 47.6 in February, beating the market consensus of 48.

The bloc’s Services PMI declined to 50.4 March from 50.6 in February. The data came in below the anticipated 51 reading.

The HCOB Eurozone PMI Composite arrived at 50.4 in March, following February’s 50.2.