Euro zone private sector business activity rose at its quickest pace in nearly six years in February, accelerating across all major economies with job creation reaching its fastest in almost a decade, surveys showed on Friday.
The data, which came alongside news on Thursday that euro zone inflation had just surpassed the European Central Bank’s target, could pose a challenge to policymakers in how to explain leaving monetary policy unchanged even as the economy picks up sharply.
IHS Markit’s final composite Purchasing Managers’ Index – seen as a good overall growth indicator – rose sharply to 56.0 in February from 54.4 in the previous month. It has not been higher since April 2011 and was unchanged from a flash estimate.
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