Eurozone services firms enjoy buoyant March but factories struggle

The headline manufacturing PMI fell to 47.1 from February's 48.5, confounding expectations in the Reuters poll for an uptick to 49.

Business activity across the eurozone unexpectedly accelerated this month as consumers splashed out on services, but weakening demand for manufactured goods deepened the downturn in the factory sector, surveys showed.

Friday's data add to evidence the eurozone will dodge a recession and indicates the 20-nation region's economy is resilient in the near term at least, potentially giving the European Central Bank (ECB) room to continue tightening policy.