The pace of eurozone economic growth improved markedly to hit a near six-year high in February, according to PMI survey data. Job creation was the best seen for nine and a half years, order book growth picked up and business optimism moved higher, all boding well for the recovery to maintain strong momentum in coming months. Inflationary pressures meanwhile continued to intensify.

The Markit Eurozone PMI registered 56.0 in February, according to the preliminary 'flash' estimate (based on approximately 85% of final replies). Up from 54.4 in January, the latest reading was the highest since April 2011.