Euro Zone Business Activity Returns to Growth in March on Services Rebound

• Euro zone business activity expanded in March for the first time since May 2022, according to a survey • The services sector showed stronger growth than expected, offsetting a deeper downturn in manufacturing • Demand for services increased, with the new business index moving back into growth territory • Services sector optimism about the year ahead soared to the highest level in over two years • The composite future output index jumped to its highest since early 2021