Eurozone Markit Feb services PMI final 56.2 vs 56.7 exp

Eurozone Markit Feb services PMI final readings now out 5 March

  • 56.7 flash
  • composite 57.1 vs 57.5 exp/flash

Softer revisions again but still above the 50 growth threshold level.
Says Markit:

  • Although pulling back from January’s near 12-year
    high to a four-month low in February, the rate of
    output growth in the euro area remained robust.
    Manufacturers and service providers saw continued
    strong inflows of new business, while job creation
    and price pressures also remained elevated.
  • The final IHS Markit Eurozone PMI® Composite
    Output Index posted 57.1 in February, down from
    January’s near 12-year high of 58.8, but well above
    the series average of 53.0. The headline index has
    signalled expansion in each of the past 56 months,
    although the latest reading was slightly below the
    flash estimate of 57.5.
  • The manufacturing sector again registered stronger
    output growth than services. Both sectors also
    continued to enjoy the best periods of expansion for
    seven years, despite seeing rates of increase in
    output and new orders easing across the board in
    February.

Full report here
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