FRANKFURT (MktNews) - The March index of the Sueddeutsche Zeitung's eurozone indicator declined for the first time since November to 102.15 points from 102.29 in February, said DGZ-Deka Bank, which calculates the index, in a press release Monday.
"For the first time in quite a while all four components (share price index, exchange rate, interest rate differential and industrial confidence) are heading in the same direction (downwards) simultaneously," the DGZ-Deka Bank said.
Although the SZ indicator remains at a historically high level its fall in March could signal that eurozone growth is undergoing a trend change. The decline of all four components this month does not have a very strong impact on the index because the index is based on data averages over an extended period of time.
The indicator was first published in May last year, but historical data was calculated back to January 1999. The February level of 102.29 is the highest level since January 1999.