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Eurozone Private Sector Slips Back To Contraction

2/22/2012 4:11 AM ET

Eurozone private sector contracted in February, following the marginal expansion seen in January, a survey by Markit Economics showed Wednesday.

The composite output index fell to 49.7 in February from 50.4 in January. Economists expected the score to remain almost steady at 50.5.

An index reading below 50 indicates contraction in activity. Nonetheless, the latest composite index was the the second-highest in six months.

The manufacturing PMI rose to 49 from 48.8 in January compared to economists' forecast for an increase to 49.4.

he services activity index scored 49.4, down from 50.4 in the previous month. The index was below 50.6 forecast by economists.

by RTT Staff Writer

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