Business activity in the eurozone industry contracted less sharply in February than a month earlier. Market researcher Markit reported the preliminary data.
The purchasing managers’ index for the euro area industry was 49.1 against 47.9 in January. Economists generally expected a drop to 47.4. A position of 50 or more indicates growth, below which shrinkage.
The index for the services sector in the euro zone recorded a level of 52.8 against 52.5 a month earlier. The composite indicator reached a score of 51.6 against 51.3 in January.
Markit announced that the contraction in German industry was less strong this month. In France, on the other hand, there was an unexpected decline in industrial activity.