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Eurozone manufacturing and services sectors expand in Feb

by ChemOrbis Editorial Team -
  • 20/02/2015 (14:14)
According to a preliminary composite purchasing managers’ index (PMI) compiled by Markit Economics, manufacturing and service output in the eurozone increased in February. A composite Purchasing Managers Index (PMI) rose to a reading of 53.5 from a reading of 52.6 in the previous month, the highest level in seven months. Any reading above 50 indicates expansion. Economists’ initial estimates called for a reading of 53 in a survey by Bloomberg.

It was reported that stronger demand and a significant increase in new orders helped the region’s business activities improve while manufacturing activities remained relatively subdued.

Across the region, the PMI for France’s composite index rose to a reading of 52.2 in February from 49.3 in the previous month, posting the highest reading for almost three and half years while an index for Germany’s manufacturing and services industry rose to a reading of 54.3 in February from 53.5 in January.
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