Corrects the second paragraph of the article to indicate that the PMI reading fell in February.
An indicator of Eurozone's service sector activity declined in February, but the rate of fall was less steeper than estimated earlier, detailed results of a survey by Markit Economics showed Tuesday.
The services activity index fell to 47.9 in February from 48.6 in January. The flash reading was 47.3. An index reading below 50 indicates contraction of the sector.
The composite output index, that gauges the performance of both manufacturing and service sectors, fell to 47.9 from 48.6 in the previous month. This was higher than the flash reading of 47.3.
Inflows of new orders fell at a faster rate, albeit slightly less than the flash estimate had signaled. While new business fell at a sharper rate in services, manufacturers reported the smallest drop in new orders since June 2011.
In Eurozone private sector, firms cut headcounts for the fourteenth month running, survey showed.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.