Euro zone business surge accelerates but stays poor in February

Euro zone business surge accelerates but stays poor in February

In February, euro zone business activity speeded up more than anticipated, although was still lackluster due to the fact that a pickup in services surge only partially offset a downturn in the EU’s manufacturing industry. That’s why a poll revealed on Tuesday.

The outcomes showed up just two days before ECB representatives uncovered their latest monetary policy.

Having drawn a line under their 2.6 trillion euro stimulus initiative at the turn of 2019, the ECB isn’t believed to change policy on Thursday. However, the major bank is expected to relaunch its long-term loan offerings soon.

A common gauge of overall economic health, IHS Markit's Euro Zone Composite Final Purchasing Managers' Index tacked on by to 51.9 this month from January's outcome of 51.0.

It turned out to be higher than the previous outcome of 51.4, although close to the 50 mark, which separates contraction from surge.

The previous week’s Reuters survey forecast euro zone surge of 0.3% this quarter, which is faster than the 0.2% at the end of the previous year.

In addition to this, in February, France's service sector activity managed to pick up. In Italy, this sector expanded a bit having contracted in January. As for Spain’s service sector, it moderately eased, although less than anticipated.

Higher demand powered activity in the German services sector to a five-month peak this month. It appears to be a further indication that this sector of the German economy will keep providing surge momentum because manufacturing goes down.

As for euro zone manufacturing activity, it started reversing for the first time for more than five years in January. However, the PMI that covers the EU’s dominant services industry rebounded to 52.8 from January's reading of 51.2.

Similar

The Last Volatile Week of 2022
The Last Volatile Week of 2022

The US Bureau of Labor Statistics will release its Consumer Price Index and many other critical events that will move the market this week!

Gold Outlook Ahead of NFP
Gold Outlook Ahead of NFP

Good day for all traders out there! We prepared a gold analysis and a bunch of other news for you to enjoy! Here's what you should know:

Latest news

Increased Volatility is Coming
Increased Volatility is Coming

The Reserve Bank of Australia (RBA) will make a statement and release a Cash Rate on February 7, 05:30 GMT+2. It's among the primary tools the RBA uses to communicate with investors about monetary policy.

Market Crash Incoming?
Market Crash Incoming?

This week may be the most important since the year started as the Fed assess the economic outlook and the US presents fresh NFP readings.

What Currency Will Overperform?
What Currency Will Overperform?

S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.

Deposit with your local payment systems

Feel the Team Spirit

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera