Euro-Zone March manufacturing PMI was revised marginally down to 33.9 from 34.0 reported initially. This is still up from 33.5 in February, however. Readings remains firmly below the 50 point no change mark, thus indicating ongoing contraction in the manufacturing sector, which is consistent with expectations of at least two more quarters of negative growth this year. However, together with improvements in the details of the German Ifo and ZEW surveys data suggest that confidence is slowly starting to bottom out, which is encouraging.