The economic performance of the euro area improved in February

The eurozone’s economy performed better than expected in February, according to a preliminary survey released on Friday by the IHS Markit Economic Research Institute in London.

In the euro area, the composite purchasing manager index (PMI) for services, manufacturing improved in February instead of the expected decline. The composite index reached a 6-month high, a 12-month high for manufacturing and a 2-month high for the services industry.

Manufacturing PMI rose 49.1 points in February from 47.9 points in January. 47.5 points was expected. (MTI)