Eurozone March Factory Growth Slumped, Downturn Possible: PMI

Eurozone March Factory Growth Slumped, Downturn Possible: PMI
A steelworker is pictured at a furnace at the plant of German steel company Salzgitter AG in Salzgitter, Lower Saxony, on March 3, 2016. Fabian Bimmer/Reuters
|Updated:

LONDON—Eurozone manufacturing growth slowed sharply last month as Russia’s invasion of Ukraine tightened supply chain bottlenecks, dampened demand, and whacked confidence, a survey showed as soaring energy costs drove a broader surge in prices.

Uncertainty caused by the invasion combined with an intensifying cost-of-living crisis suggests the bloc’s manufacturing industry could slide into a recession this quarter.