Eurozone business activity better than initially estimated.

Eurozone services PMI increased to 52.6 (flash 51.7) in February from 51.6 in January, while composite output rose to 53.3 (flash 52.7) from 52.9. The data suggests that eurozone GDP is on track to grow 0.4-0.5% in Q1, which would be the "best performance for three years." Meanwhile, retail sales blew past expectations with a rise of 1.6% on month in January - the largest increase since November 2001 - after falling 1.3% in December.