Eurozone business activity softens

|By:, SA News Editor

Eurozone flash manufacturing PMI has slipped to 53 in February from 54 in January and missed consensus that was also 54.

Services have edged up to 51.7 from 51.6 and vs 51.9.

Composite output has fallen to 52.7 from 52.9 and vs 53.1.

Manufacturing output has declined to 55.5 from 56.7.

"A dip in the eurozone PMI provides a reminder that the region's recovery continues to be uneven and fragile," says Markit, "but it's too early to read too much into one month's data."

PMI data from January and February suggest Q1 GDP growth of 0.5%.

The euro is -0.3% at $1.3697. (PR)

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