FX.co ★ Eurozone Services Activity Edges Higher in February, HCOB PMI Rises to 51.8

The eurozone’s services sector showed a modest improvement in February 2026, with the HCOB Eurozone Services Purchasing Managers’ Index (PMI) inching up to 51.8 from 51.6 in January. The latest reading, updated on 20 February 2026, remains above the 50-point threshold that separates expansion from contraction, indicating a continued, if moderate, expansion in the bloc’s services economy.

The slight uptick suggests that services activity in the euro area is gaining some traction, though at a relatively subdued pace. With February marking the second consecutive month of readings above 51, the data point to a cautiously improving environment for service providers across the currency union. Investors and policymakers will be watching upcoming releases closely to assess whether this incremental momentum can be sustained in the months ahead.