Euro Area's Top Economies Contract, Delaying Bloc's Growth.

Euro-area private-sector activity reached a nine-month high, although the top two economies in the bloc, Germany and France, continue to struggle. The purchasing managers' index for March was stronger than predicted, driven by growth in the services sector, while the manufacturing gauge dropped unexpectedly. Germany's manufacturing sector remains in contraction, and France's private-sector economy shrank at a slightly faster pace. However, there is optimism for future production, and companies are becoming more positive about the future. The European Central Bank is expected to cut rates in June. [Extracted from the article]