Eurozone economic growth regained momentum in February to reach its highest level since last September, according to IHS Markit.
After falling to an 11-month low in January, the eurozone composite PMI rose to 55.5 in February, from 52.3 in the previous month.
The growth was quite strong in both manufacturing and services, with a more significant recovery in services that led to a resurgence of growth on a complex basis, Markit said.
The eurozone services PMI rose to 55.5 points in February from 51.1 in January, marking the strongest expansion in services production in three months.
The easing of coronavirus restrictions has led to a resurgence in spending on consumer services.
Demand growth accelerated and recruitment increased as companies announced better prospects, IHS Markit reported.
However, business continues to be constrained by both labor market shortages and supply chain problems.
Prices have risen at the fastest rate in 25 years, IHS Markit reported.
Source: Capital
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