Eurozone Preliminary Manufacturing PMI advances to 47.3 in February vs. 47 expected

Finance

Eurozone Preliminary Manufacturing PMI advances to 47.3 in February vs. 47 expected

• Eurozone Manufacturing PMI rose to 47.3 in February, beating 47 estimate.
• Blocs Services PMI dropped to 50.7 in February vs. 51.5 forecast.
• EUR/USD keeps losses below 1.0500 after German, Eurozone PMI data.

The Eurozone manufacturing sector improved but remained in contraction while the services sector activity eased in February, according to the data from the HCOBs latest Purchasing Managers Index (PMI) Survey published on Friday.

The Eurozone Manufacturing Purchasing Managers Index (PMI) advanced to 47.3 in February from 46.6 in January, beating the market expectations of 47.

The blocs Services PMI fell to 50.7 February from 51.3 in January. The data came in below the market forecast of 51.5 and hit a three-month low.

The HCOB Eurozone PMI Composite stayed at 50.2 in February, below the estimated 50.5 figure.

EUR/USD reaction to the Eurozone PMIs data

EUR/USD keeps the red near 1.0480 on the mixed Eurozone PMI data, losing 0.20% on a daily basis.