2/21/2019, 10:01 AM (Source: TeleTrader)
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Eurozone Composite PMI at 51.4 in February

Eurozone Composite Purchasing Managers' Index (PMI) for February 2019 came in at 51.4, reaching a 3-month high, a report published by IHS Markit said on Thursday. The figure for January showed 51.0, also the highest reading for the previous three months. The overall growth was mostly focused in the service sector, whose activity saw the highest three-month acceleration of growth, mainly due to improvements seen in Germany and France.

February's euro area manufacturing sector, however, fell for the first time since June 2013. Although overall business activity increased, new orders were lower for the second consecutive month, which made the manufacturing sector the driver of weakness during the second month of the year in new business. Employment remained at solid levels in Eurozone, with increases seen in the service sector and stable employment figures in manufacturing.

"The Eurozone economy remained close to stagnation in February. The flash PMI lifted only slightly higher during the month, continuing to indicate one of the weakest rates of expansion since 2014. The survey data suggest that GDP may struggle to rise by much more than 0.1% in the first quarter," IHS Markit Chief Business Economist Chris Williamson stated.

Baha Breaking the News (BBN) / SS