The eurozone region maintained a “strong rate of growth” in March 2022, dropping only slightly from February’s five-month high despite a record surge in inflation, ratings agency S&P Global said in a recent report. The seasonally adjusted S&P Global Eurozone PMI Composite Output Index in March 2022 was recorded at 54.9, slightly lower than 55.5 in February, indicating strong business activity across the eurozone. “The expansion was driven by the service sector, where output rose at a marginally faster pace than in February. Manufacturing production was also up over the month, although the expansion was the weakest seen over the current 21-month sequence of increases,” the report (pdf) stated. “The upturn was supported by a further loosening of COVID-19 containment measures, which led to higher activity levels at clients and boosted demand for goods and services.” The fastest growing eurozone nation in March was Ireland, with its PMI composite index …