Hopes that the economy in the euro zone will soon emerge from recession suffered a setback today, according to the flash estimate of the Markit PMI index which shows a further decline in business activity, particularly those of France .
The composite index, which brings together manufacturing and services activity, recorded a level of 47,3 in February, worse than the expectations of 49,0 and after 48,6 in January. The services sector recorded a 47,3 against expectations of a 49,0 and worse than the 48,6 in January.
Finally, manufacturing activity recorded a 47,8, below expectations of 48,5 and the January value of 47,9. The PMI showed the sharp divergence between the economies of Germany and France - the two largest economies in the euro zone - which reached the widest level since the survey began in 1998.
