FX.co ★ Eurozone Private Sector Growth Accelerates in February

The HCOB Eurozone Composite PMI climbed to 51.9 in February 2026 from 51.3 in January, exceeding market expectations of 51.5, according to a preliminary estimate. This marked the strongest expansion in private sector activity since November, supported by the sharpest increase in manufacturing output since August 2025 and a pickup in services growth. However, new orders rose only slightly, as foreign demand continued to weaken. Employment declined marginally for the second consecutive month, and backlogs of work continued to fall. On the cost side, input price inflation quickened to match its fastest pace in 34 months, while growth in output prices eased somewhat. Business confidence dipped but remained at its second-highest level in 21 months.