Eurozone business activity jumps in February
Markit's flash composite purchasing managers' index - which measures activity in the manufacturing and services sectors - rose to a 70-month high of 56.0 from 54.4 in January, beating expectations for a reading of 54.3.
The purchasing managers' index for the services industry jumped to 55.6 from 53.7 the month before, a 69-month high and ahead of expectations for it to remain unchanged.
Meanwhile, the PMI for the manufacturing sector increased to 55.5 from 55.2 in January, surpassing analysts' forecasts for a reading of 55.0.
In Germany, the manufacturing PMI rose to 57 from 56.4 in January, beating estimates of 56.0, while the composite PMI jumped to 56.1 from 54.8. This marked a 34-month high and was ahead of expectations for 54.7.
In France, the index for manufacturing fell to 52.3 in February from 53.6 the month before, hitting a three-month low and missing expectations of 53.5.
The composite PMI, however, rose to a 69-month high of 56.2 from 54.1 in January, comfortably beating expectations of 53.7. ■