Eurozone PMI Jumps to 3 Month High as Manufacturing Rebounds

Eurozone business activity rose to a three-month high in February, with the Composite PMI Output Index at 51.9, up from 51.3, according to the S&P Global Market Intelligence. Services activity edged higher to 51.8, while manufacturing output surged to 52.1, a six month high. The Manufacturing PMI reached 50.8, a 44 month high and first expansion in six months. Germany recorded faster growth, France was unchanged, and the rest of the eurozone expanded at the slowest pace since June 2025. Employment fell slightly for a second month as firms hesitated to hire, with manufacturing jobs declining and services staffing unchanged. Backlogs dropped again, though at the weakest pace in four months. Purchasing activity rose marginally, Input costs climbed driven by manufacturing, while selling price growth softened but stayed strong.