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