Economic growth rose sharply this month across the Eurozone on easing Covid-19 restrictions.
- The headline IHS Markit Eurozone Composite PMI jumped 3.5 points in February, increasing from 52.3 in January to 55.8, signaling a sharp acceleration of economic growth.
- The growth comes after two months of slowed expansions as the surge in COVID-19 infections associated with the Omicron variant triggered an increase in virus containment measures.
- Average prices for goods and services expanded at the sharpest pace as firms increasingly ought to pass higher cost inflation on to the customers.
- France led with the biggest recovery, where growth reached the highest level since last June as growth in Germany rose to the fastest since August last year.
Future expectations, new orders and job growth also rebounded. Growth rose in the service sector, even though manufacturers also posted better production gains due to rising demand and fewer supply chain constraints.
Euro Stoxx 50 down -0.34%, EUR USD up +0.40%
Source: IHS Markit.