After a positive start in January the main economic sectors in the euro area resumed their frail improvement and maintained a weak status only parallel to the current mild recession status.

The February advanced PMI estimate reported the return of the sectors into contract as the index fell again below 50. The index gauging the aggregate performance, the PMI composite dropped to 49.7 from 50.4 and was below the expected 50.5.

The Manufacturing PMI was 49.0 recovering from 48.8 the previous month yet missed estimates for expansion of 50.6 while the Services PMI slowed to 49.4 after 50.4 and missed 50.6 expectations.