February saw a further drop in business activity across the eurozone’s largest economy, in a continuation of the downturn that began in the middle of last year, the latest HCOB ‘flash’ PMI® survey compiled by S&P Global showed. The rate of contraction quickened slightly, led by a sharp and accelerated reduction in manufacturing output. Demand for goods and services continued to weaken, although employment held broadly steady as firms expressed slightly more optimism towards the yearahead outlook. February data meanwhile showed the fastest increase in business costs for ten months, driven in part by strong wage ... (full story)