Business activity in the eurozone grew faster than expected in February, strengthening the rebound from last year’s energy crisis and reinforcing calls for the European Central Bank to keep raising interest rates to tackle high inflation.
S&P Global’s flash eurozone composite purchasing managers’ index, a measure of activity in manufacturing and services, rose to 52.3 from 50.3 in January, according to figures released on Tuesday.
The result was significantly higher than the 50.6 expected by economists polled by Reuters. It was also above the 50 mark for the second consecutive month, meaning a majority of businesses in the 20-country bloc reported increased activity.
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