Euro-Zone Business Activity Grows at Fastest Pace in Nine Months
- Composite PMI rises to 52.3; economist had seen 50.7
- Data suggest economy may avoid contraction in first quarter
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Euro-area business activity rose at the fastest rate in nine months in February — raising the likelihood that the bloc can avoid a downturn this quarter.
The better-than-expected performance was driven by services, which saw the strongest growth since June in surveys of purchasing managers by S&P Global. Manufacturing output also improved as supply-chain bottlenecks eased further.