Eurozone manufacturing PMI slipped to 53.2 in February from 54 in January, with the German print slipping but staying in growth territory. The French reading surprisingly improved but the sector contracted again. The overall survey is consistent with eurozone industrial output growing at 1% in Q1, while GDP is set to rise 0.4-0.5%, "With new orders and backlogs of work still rising at reasonable rates, further ongoing expansion is signalled for coming months."
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