A survey has shown that growth in the euro zone service sector lost steam in March but remained at a high level.
The euro zone purchasing managers index (PMI) for the service sector, compiled by the research group NTC Economics, slipped marginally to 57.4 points in March from 57.5 in February. Economists had forecast an increase to 57.6.
Despite the lower level of activity, the vast service sector continued to show resilience with the 45th consecutive month of growth, as indicated by a figure over 50. The survey found that incoming orders bounced back from a 13-month low in February.
A similar survey showed that Britain's service sector grew slightly faster in March. It also showed that prices charged by firms accelerated even as strong input cost growth eased, potentially adding weight to the case for an interest rate rise.
The CIPS/RBOS service sector index accelerated to 57.6 last month from 57.4 in February, slightly above forecasts for an unchanged reading.
