Eurozone Economy Expands in February - But Slower

04 March 2005

The Eurozone Composite Output Index - charting both manufacturing and service industries - fell from 53.4 in January to 53.1 in February.

At a level above the 50.0 no-change mark, the index registered an expansion of private sector output for the nineteenth consecutive month.

The key findings for February 2005 are ...

  • New Business
    The index slipped from a four-month high of 52.8 in January to 52.3 in February. Although registering higher demand in the Eurozone for the nineteenth successive month, and a markedly faster rate of increase than the recent low of near-stagnation recorded in November, the pace of growth weakened further below the average seen during 2004.

  • Input Prices
    This index fell further from October's four-year peak of 66.9, to 61.0 in February. Although indicating a further steep rise in costs, and a rate well above the long-run average of the survey, the rate of increase was the weakest seen for ten months.

  • Employment
    This remained largely unchanged in February with the index recording 50.1, up from 49.7 in January and signalling a halt to the job losses seen in the previous three months.
Eurozone Purchasing Managers' Indices are designed to provide the earliest indication of business conditions in the Eurozone. The data are based on surveys of purchasing managers in Germany, France, Spain, Italy, Austria, Ireland, Greece and the Netherlands (plus the UK, Poland and the Czech Republic for the EU data), covering over 6,000 manufacturing and services companies.

These countries together account for an estimated 92% of total Eurozone gross domestic product. Questions are asked about real events and are not opinion based.

For further information of the Eurozone and other regional indices click here

Data sourced from NTC Research; additional content by WARC staff NTC Research