EU HCOB Composite PMI Flash (Feb) 51.9 vs. Exp. 51.5 (Prev. 51.3, Low. 51.3, High. 52)

"Prices pressure in the services sector which is monitored by the ECB tightly, has relaxed a bit in February. Costs are still increasing at a high rate but not as fast as the month before while companies increased their prices to their customers at a significantly lower rate than before. Given the stable expansion of economic activity and a still elevated service inflation the ECB does not seem to be inclined to change its view to stay put with respect to their key policy rates.”
"It seems that the manufacturing sector is on a more stable footing and could contribute to overall growth this year instead of being a drag for the economy."
"Services growth is continuing at a moderate rate...overall growth dynamics have lost some momentum, though. Still, the economy of the Eurozone seems to be on a stable footing, as new business for both service providers and manufacturing companies have increased which should lead to continued growth in output over the next few months."