The economic performance of the euro area declined less than expected in February

By: Trademagazin editor Date: 2021. 03. 05. 11:03

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The euro area’s economic performance had been shrinking for the fifth month in February, but to a lesser extent than in the previous month, mainly due to an unprecedented rise in the manufacturing industry that has not seen for three years – according to a survey published on Wednesday by the IHS Markit in London.

In February, the final value of the composite Purchasing Managers’ Index (PMI), which models the aggregate performance of the euro area manufacturing and services industries, climbed higher than the previous 48.1 points to 48.8 points, exceeding the January 47.8 points. (MTI)