Eurozone Economic Recovery: Manufacturing at 44-Month High

Three-Month High in Economic Activity Economic activity in the Eurozone performed above expectations in February, reaching its highest level in three months.
The preliminary composite Purchasing Managers' Index (PMI), which was recorded at 51.3 points in January, rose to 51.9 points in February.
44-Month Record in Manufacturing The most notable improvement in the February data was observed in the manufacturing industry.
The manufacturing PMI, which remained at 49.5 in January signaling contraction, climbed to 50.8 points in February.
With this increase, the sector reached its highest level in the last 44 months and managed to rise above the 50-point growth threshold after a long interval.
Steady Growth in the Services Sector The services sector also maintained its growth momentum in February.
The services sector PMI, which was 51.6 points in January, rose to 51.8 points in February, demonstrating its best performance in the last two months.
In economic literature, PMI values above 50 indicate sectoral growth, while values below this level represent contraction.