First para recast
Eurozone private sector growth eased to a 13-month low in February but the slowdown was less severe than initially estimated, final data from Markit showed Thursday.
The composite output index slid to 53 in February from 53.6 in January. This was the lowest score since January 2015 but slightly above the flash score of 52.7.
Similarly, the services Purchasing Managers’ Index dropped to 53.3 from 53.6 in January. The flash score was 53.
“The survey data raise the prospect of economic growth deteriorating further from the already meagre pace seen late last year, when GDP rose only 0.3 percent,” Chris Williamson, chief economist at Markit, said.
Rates of output expansion eased across Germany, Italy, Spain and Ireland. Meanwhile, France fell back into contraction for the first time in 13 months.
Germany’s composite PMI fell to a 5-month low of 54.1 from 54.5 in January. Nonetheless, it was above the flash score of 53.8.
The final services PMI came in at 55.3 in February, up from 55 in January and flash score of 55.1.
Elsewhere, the French composite index dropped to a 13-month low of 49.3 from 50.2 in January. It was also below the flash score of 49.8.
The services PMI slid to 49.2 from 50.3 in January. The preliminary reading was 49.8.
The material has been provided by InstaForex Company – www.instaforex.com