Even before Cyprus' turmoil spills over, Greece's manufacturing sector experienced a decline last month, with Markit's purchasing managers index dropping to 42.1 from 43 in February. The latest reading reversed gains in the first two months of the year, Markit noted. "Eyes now turn to next month's release for an early insight into whether developments in nearby Cyprus have impacted business and consumer confidence," said Markit senior economist Phil Smith.

Related Summaries