Euro-Zone Composite PMI Drops in February

Private-sector activity across the euro zone declined in February, according to the preliminary Markit purchasing managers index for the region.

The index fell to 49.7 versus 50.4 in January. However, economists were expecting a rise to 50.8. The PMI for the services sector dropped to 49.4 versus 50.4 in January. However, the manufacturing PMI climbed to 49.0 from 48.8 in January.