LONDON (Reuters) – The recovery in euro zone business activity accelerated in February to its fastest pace of growth in eight months, final results of the S&P Global Business Survey showed on Friday. purchasing managers, which is the last sign that the currency bloc will avoid a recession.
The composite PMI index, considered a reliable barometer of the evolution of economic activity as a whole, reached an eight-month high of 52.0 last month after 50.3 in January. A first estimate had given it at 52.3.
“Sustained growth in the eurozone private sector in February has allayed concerns about a possible recession for the time being,” said Chris Williamson, chief economist at S&P Global.
There are “clear signs of improving business confidence from the very low levels seen at the end of the year. inflation, encourages (…) more optimism”.
The PMI for the services sector alone fell to 52.7 – again an eight-month peak – after 50.8, slightly below the “flash” estimate which had given it at 53.0.
The new orders sub-index rebounded from 50.1 to 52.2.
(Jonathan Cable; Laetitia Volga, editing by Kate Entringer)
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