Euro zone business activity continued to expand in February, although at a slower rate than expected, according to a closely-watched survey of the region’s services and manufacturing sectors.
The final composite reading of Markit’s purchasing managers’ index (PMI) came in at 53.3 in February, slightly below a preliminary reading of 53.5.
However it marked a rise from January’s reading of 52.6, as a weaker euro continued to give businesses in the region a boost. The 50-point mark separates expansion from contraction.
The index’s findings come after data released earlier this week showed that deflation eased in the euro zone in February , as the 19-country region awaits the European Central Bank’s (ECB) quantitative easing (QE) program.
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