Although pulling back from January's near 12-year high to a four-month low in February, the rate of output growth in the euro area remained robust. Manufacturers and service providers saw continued strong inflows of new business, while job creation and price pressures also remained elevated.

The final IHS Markit Eurozone PMI Composite Output Index posted 57.1 in February, down from January's near 12-year high of 58.8, but well above the series average of 53.0. The headline index has signalled expansion in each of the past 56 months, although the latest reading was slightly below the flash estimate of 57.5.