Falls more than expected the Markit PMI Eurozone Manufacturing Composite Index for February, down to 49,3 from 50,4 in January and against forecasts of 49,7. After the return to growth marked in January, after four months of contractions, the February value therefore marks a new reduction in activities.
The general contraction of production is especially due to the new decline in the services sector, while industrial production showed a slight increase, for the second consecutive month.
Looking at the particular situation of the countries, and above all at the four main economies of the single currency, we can observe the declines of Italy and Spain, which appear to be more marked than in January, but milder than those at the end of 2011. The Germany, on the other hand, by combining services sector activities with those of manufacturing, marks the third consecutive growth in production, as has France, although growth rates have slowed since January.
