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By Jonathan Cable
LONDON, April 5 (Reuters) – Euro zone business growth got a boost last month from the re-opening of economies following the Omicron coronavirus variant, according to a survey which however showed soaring energy costs and Russia’s invasion of Ukraine threaten the recovery.
S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good guide to economic health, dipped to 54.9 in March from February’s 55.5 but was ahead of a preliminary 54.5 estimate.
“March’s final euro zone PMI surveys confirmed that output expectations fell sharply, with Germany experiencing the biggest drop. Meanwhile, price pressures remain intense across the currency union,” said Jack Allen-Reynolds at Capital Economics.
Germany’s services sector grew at the fastest pace in six months in March after COVID-19 restrictions were lifted, but uncertainty after Russia’s invasion and accelerating inflation clouded the…