Eurozone business activity accelerated faster than anticipated in February, with the HCOB Flash Eurozone Composite PMI rising to 51.9 from 51.3 in January.
This marks the 14th consecutive month of expansion and surpassed Reuters poll expectations of 51.5. The primary driver was a significant rebound in the manufacturing sector, which returned to growth for the first time since October, with its PMI jumping to 50.8.
Conversely, the dominant services sector, while showing modest improvement, slightly underperformed expectations. Geographically, Germany led the Eurozone's growth, reaching a four-month high in business activity, though France remained subdued.
Despite overall pricing pressures increasing, firms raised charges at a modest pace, indicating no immediate shift in European Central Bank interest rate policy. The report also briefly notes a continued business rebound in the UK.
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