Eurozone business activity slows in March due to Middle East war

Business activity in the eurozone slowed in March after the war in the Middle East drove energy prices higher and disrupted global supply chains, a closely watched survey showed Tuesday.

The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global, an important gauge of the overall health of the economy, registered a significantly lower figure of 50.5 this month, down from 51.9 in February.

A reading above 50 indicates growth, while a figure below 50 shows contraction.