FX.co ★ Eurozone Business Activity Growth Accelerates in February

The HCOB Eurozone Composite PMI rose to 51.9 in February 2026 from 51.3 in January, indicating the fastest expansion in private sector activity in three months. The reading points to a firmer pace of growth across the euro area economy. The upturn was supported by stronger output in both manufacturing and services, with Germany at the forefront of the improvement. Ireland and Italy also recorded solid gains, while growth lost momentum in Spain and activity stagnated in France. Overall, new orders increased at a quicker rate, even as export demand continued to decline. Employment was broadly unchanged, showing little movement compared with the previous month. On the cost side, input price inflation accelerated for the fourth consecutive month, reaching its highest level in nearly three years. In contrast, output price inflation eased slightly but stayed elevated, representing the second-sharpest increase over the past year. At the same time, business confidence strengthened, climbing to its highest level since May 2024.