A survey closely monitored by the European Central Bank is indicating that the 19-country eurozone economy hit a “speed bump” in February, likely reinforcing expectations that the bank won’t announce any fundamental changes to its super-easy monetary policy this week.
Financial information firm IHS Markit says Monday that its main gauge of business activity across manufacturing and services fell by more than anticipated during the month.
Continue Reading Below
The so-called purchasing managers index slipped to 57.1 points from January’s 12-year high of 58.8. Still, the index remains way above the 50 level that indicates expansion.
Chris Williamson, the firm’s chief business economist, says it’s “too early to read too much” into the monthly decline but noted that some pull-back from was “always on the cards.”
Advertisement
