Mubasher: Initial estimates for the Eurozone indicated that economic activity saw a further slowing growth during March, as factories saw their deepest downturn in six years.

The IHS Makit Eurozone purchasing managers’ composite index (PMI) was at 51.3 in March, edging down from 51.9 in February, according to the IHS Markit survey data on Friday.

“The Eurozone economy ended the first quarter on a soft note, with the flash PMI running at one of the lowest levels seen since 2014,” IHS Markit’s chief economist Chris Williamson said.

The PMI gauging activity in the manufacturing sector registered the lowest level in approximately six years at 47.7 in March, compared with 49.4 in the previous month.

The flash PMI for service business activity inched to 52.7 its lowest level in two months during March, compared with 51.2 in the prior month.

By 9:13 am GMT, the EUR/USD pair fell 0.61% to $1.1305.