The Markit Eurozone PMI® Composite Output Index fell from 47.9 in February to 46.5 in March, according to the flash estimate. The decline signalled an acceleration in the rate of contraction of business activity for the second consecutive month to the steepest experienced for four months. With the exception of a marginal increase in January of last year, business activity has fallen continually since September 2011. Manufacturing output fell in March at the fastest rate since December, while business activity in the service sector suffered the steepest decline since October. Companies also reported that new business ... (full story)