Eurozone composite PMI edges up to 2-month high as manufacturing outweighs services

The flash reading of the IHS Markit eurozone composite purchasing managers index rose to a two-month high of 48.1 in February from 47.8 in January. Any reading below 50 indicates deteriorating conditions; economists had expected a 47.9 reading. The services PMI index fell to 44.7 from 45.4, a three-month low, but the manufacturing PMI rose to a 36-month high of 57.7 from 54.8.