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Final Service Sector PMI Continues to Rise in Eurozone and UK

Economic activity in the eurozone countries rose sharply in February, driven by rising demand in the services sector, in particular, following the easing of the Covid 19 measures.

Financial information services provider IHS Markit reported its final purchasing managers’ index (PMI) for the eurozone services sector at 55.5 in February, up from 51.1 in January but down from its initial estimate of 55.8.

The PMI index continues to rise above the 50 mark, indicating that the eurozone services sector as a whole continues to expand.

The Purchasing Managers’ Index (PMI) for the eurozone’s manufacturing and services sectors rose to 55.5 in February from 52.3 in January.

The UK service sector PMI rose to 60.5 in February.

The UK services purchasing managers’ index (PMI) rose to 60.5 in February from 54.1 in January, slightly below the initial estimate of 60.8.

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