The flash Markit euro-zone manufacturing purchasing managers index rose to a 39-month high of 56.3 in March from 54.2 in February, and the services PMI rose to a 28-month high of 53.7 from 51.8. Any number over 50 indicates expansion, and expectations were for a manufacturing PMI of 53.8 and a services PMI of 51.7. The flash survey is based on around 85% of monthly respondents. The divergence between manufacturing and services is the greatest since the survey began in 1998. Chris Williamson, chief economist at Markit, said the figures are consistent with a first-quarter GDP rise of 0.5% in the first quarter. (full story)