The eurozone business activity index rose to a five-month high

The index of business activity in industry and services of 19 eurozone countries rose to 55.8 points in February. This was reported by the research organization Markit Economics. 

The composite index of business activity (PMI) in industry and services, according to preliminary estimates, in February increased from January 52.3 points to 55.8. Analysts at the same time expected an increase in the indicator only to 52.7 points. Thus, the indicator reached a five-month high.

If we consider separately the services sector of all eurozone countries, the indicator there rose to 55.8 points from 51.1 points in January. Analysts had expected the indicator at the level of 52 points.

The composite index of business activity in industry and services in Germany rose to a six-month high of 56.2 points from the January level of 53.8 points. The PMI of the German services sector rose to 56.6 points from 52.2 points in January, the forecast was 53 points.

The composite index of business activity in France rose in February to an eight-month high of 57.4 points from the January level of 52.7 points. The country's PMI in the service sector increased to 57.9 points from 53.1 points a month earlier. Analysts predicted an increase in indicators to 53.1 and 53.6 points, respectively.