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Eurozone Growth Rebounds From January Lows to the Highest Since September 

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The Eurozone’s Composite Output Index was at 55.5 in February, from 52.3 the previous month, making the strongest output gain since September.

Source: IHS Markit

Alt: Eurozone Composite PMI Output Index

Eurozone Composite PMI Output Index

DAX is down -0.30%, EURUSD is down -0.25%

The services activity saw a robust rebound, with the activity index holding at 55.8, up from 51.1 in January.

The overall demand for euro area goods and services rose for the twelfth straight month, with last month’s expansion the quickest since September.

Demand also improved in external markets, with the new export orders the fastest in four months, although it was below average of the 15-months of expansion sequence.

Job creation accelerated, with the rate hitting a three-month high in February and was the quickest among manufacturers.

Backlogs of work increased, with the accumulation the fastest in six months and one of the strongest on record.

Price pressures escalated, pushing the input cost inflation to the second-fastest on record, while selling price charges were at a fresh survey record.

Business confidence grew due to the improving demand conditions, with service firms posting the highest level of optimism in four months.

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