Eurozone Manufacturing PMI rose to a 36-month high of 57.7 in February, up from 54.8 in January, according to IHS Markit press release. The manufacturing strengths helped to offset the weakening service sector, whose activity index fell to a 3-month low of 44.7 from 45.4 in January.
- Flash Eurozone PMI Composite Output Index rose to a 2-month high of 48.1 in February from 47.8 in January, a fourth consecutive monthly contraction in business activity.
- Flash Eurozone Manufacturing PMI Output rose to a 4-month high of 57.5 in February, from 54.6 in January.
- Rising price pressures persisted, fueled by surging demand for raw materials leading to supply constraints.
- Business expectations rose to the highest for nearly three years as companies were optimistic about vaccine roll-outs.
- Employment fell across the Eurozone for a twelfth straight month.
- Germany and France saw production return to modest growth after January hits while the rest of the Eurozone enjoyed the strongest factory production gains since August.
European stocks and the euro are currently gaining. DAX is up 0.90%, EURUSD is up 0.29%