Financial information firm IHS Market announced that its Purchasing Managers’ Index (PMI) for the upstream manufacturing and services sectors of the eurozone reached 55.8 in February, the highest level in five months, up from 52.3 in January.
The PMI index continues to rise above the 50 mark, suggesting that the eurozone as a whole continues to grow, supported by the easing of measures to contain the spread of COVID-19.
The eurozone primary services PMI was 55.8 in February, a three-month high, up from 51.1 in January.
The primary manufacturing PMI for the eurozone was 58.4 in February, down from 58.7 in January.
The preliminary PMI for Germany rose to a six-month high in February.
The overall PMI for the manufacturing and primary services sectors in Germany reached 56.2 in February, the highest level in six months, up from 53.8 in January.
German economic activity is increasing, reflecting growing demand in Germany against the background of the coronavirus pandemic. However, the manufacturing sector has come under pressure from the problem of staff shortages.
The PMI for the primary services sector reached 56.6 in February, the highest level in six months, up from 52.2 in January.
The manufacturing PMI was 58.5 in February, a two-month low, down from 59.8 in January.
The UK Purchasing Managers’ Index for the manufacturing and services sectors also reached an eight-month high.
The UK Purchasing Managers’ Index (PMI) is at 60.2 in February, up from 54.2 in January.
The UK corporate sector continues to expand, driven by the services sector, which became more active after the government eased measures to contain the spread of COVID-19.
The PMI for the primary services sector was 60.8 in February, also an eight-month high, up from 54.1 in January.
The manufacturing PMI was 57.3 in February, unchanged from January.