Eurozone.

Following a sharp slowdown in H2 2018, latest survey data suggests that economic activity seems to be stabilising. There remains a wide divergence between robust activity in services and a struggling manufacturing sector, which is still reeling from the impact from several transitory shocks as well as a sharp deterioration in the external environment. This is particularly evident in the March PMI numbers, which showed services activity bouncing back to its highest level in four months whereas the manufacturing sector continued to slip, reaching its lowest level in six years. We still think that robust domestic fundamentals should help to support growth in 2019. But risks remain, especially from an increasingly adverse global environment. [ABSTRACT FROM AUTHOR]