The manufacturing sector of the euro area continued to remain strong in February, although the growth rate of new orders declined in relation to the highest levels achieved before the end of the year – informed Markit.
The final PMI result in the euro zone fell to the lowest for four months – 58.6 in February from 59.6 in January, but better than previous estimates (58.5) and well above the long-term average of 51.8. PMI remains above 50 – which means contractual development of the economy – for 56 months. The sector is still enjoying one of the best periods in the last 18 years.
The highest rate was recorded in the Netherlands 63.4 , then in Germany 60.6 – this is a 4-month low at the end of the rating are Spain and France, here the reading has indicated a half-yearly minimum.
