The data is likely to increase calls for further interest rate rises by the European Central Bank in an effort to tackle high inflation © Wolfgang Rattay/Reuters 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. “Business activity across the eurozone grew much faster than expected in February, with growth hitting a nine-month high thanks to resurgent service sector activity and a recovering manufacturing economy,” said Chris Williamson, chief business economist at S&P Global Market Intelligence. The eurozone economy has proved more resilient than initially feared to the fallout from Russia’s invasion of Ukraine, with a mild winter helping to reduce natural gas consumption, […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
