| Time | Country | Event | Period | Previous value | Forecast | Actual |
|---|
| 08:30 | Germany | Manufacturing PMI | February | 45.5 | 46.1 | 42.3 |
| 08:30 | Germany | Services PMI | February | 47.7 | 48 | 48.2 |
| 09:00 | Eurozone | Manufacturing PMI | February | 46.6 | 47 | 46.1 |
| 09:00 | Eurozone | Services PMI | February | 48.4 | 48.8 | 50 |
| 09:30 | United Kingdom | Purchasing Manager Index Manufacturing | February | 47 | 47.5 | 47.1 |
| 09:30 | United Kingdom | Purchasing Manager Index Services | February | 54.3 | 54.1 | 54.3 |
| 10:00 | Eurozone | Harmonized CPI, Y/Y | January | 2.9% | 2.8% | 2.8% |
| 10:00 | Eurozone | Harmonized CPI ex EFAT, Y/Y | January | 3.4% | 3.3% | 3.3% |
| 10:00 | Eurozone | Harmonized CPI | January | 0.2% | -0.4% | -0.4% |
EUR strengthened against most of its major rivals in the European session on Thursday as investors responded to the data, which showed a further easing of a downturn in the Eurozone’s business activity in February.
According to S&P Global’s latest survey, the flash Eurozone composite PMI increased to 48.9 in February from 47.9 in the previous month, indicating that business activity in the euro area declined at the weakest rate for eight months. Economists had predicted the indicator to rise to 48.5. The February improvement was due to a stabilisation of output in the dominant service sector (the flash Eurozone services PMI came in at a neutral mark of 50.0 in February, up from 48.4 in January), which offset a further steep contraction in manufacturing (the flash Eurozone PMI manufacturing came in at 46.1, down from 46.6). By country, a deepening shrinkage in business activity in Germany and sustained output decrease in France were countered by quicker growth in the rest of the region.