Flash Eurozone PMI Composite Output Index(1) at 53.5 (52.6 in January). 7-month high.
Flash Eurozone Services PMI Activity Index(2) at 53.9 (52.7 in January). 7-month high.
Flash Eurozone Manufacturing PMI(3) at 51.1 (51.0 in January). 7-month high.
Flash Eurozone Manufacturing PMI Output Index(4) at 52.2 (52.1 in January). 7-month high
Data collected 12-19 February. Growth of business activity in the euro area economy hit a seven-month high in February, according to the ‘flash’ reading of the Markit Eurozone PMI® .
The survey’s Composite Output Index rose from 52.6 in January to 53.5.
The flash reading is an early run of the survey data, typically calculated one week before the full ‘final’ results and usually incorporating around 85% of total monthly survey responses.
Growth of business activity has now accelerated for three successive months, having almost stalled back in November, driven higher by stronger demand. New orders also grew at the sharpest rate for seven months in February. Companies often struggled to cope with the increased inflows of new business, meaning backlogs of uncompleted orders rose for the first time since last April. The rise was the largest since May 2011. With backlogs of work accumulating, and demand showing signs of picking up, firms took on extra staff at the fastest rate since August 2011. Faster growth was seen in both manufacturing and services, where factory output and business activity measures hit seven-month highs. Services continued to see the stronger pace of expansion of the two sectors, with manufacturing growth remaining relatively subdued
