Eurozone business activity has cooled slightly

This month, the flash composite PMI slipping to 53.2 from 53.3 in February but topping consensus of 52.6. Manufacturing and services PMI fell, although the eurozone enjoyed its best quarter for business activity since Q2 2011, says Markit, with the PMI survey signalling a 0.5% increase in Q1 GDP after growth of 0.3% in Q4. German PMI readings disappointed, but France's business activity surprisingly returned to growth.