Euro zone business activity gathered steam in February, buoyed by a growth in services even as the manufacturing sector shrank
painted a similar picture, showing activity grew this month for the first time since October, helped by a slight easing in inflationary pressures and strength in the jobs market.Workers assemble campers at Knaus-Tabbert AG factory in Jandelsbrunn near Passau, Germany, March 16, 2021.REUTERS/Andreas GebertImplying the upswing in the region could continue, the euro zone PMI showed demand increasing for the first time since mid-2022, while firms again added to headcount.
With recession fears fading, optimism about the year ahead improved again in February. The business expectations index rose to a nine-month high of 61.5, from 61.2 in January. But an index measuring output, which feeds into the composite PMI, bounced to 50.4 from 48.9, its first time above 50 since May.
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