Euro area manufacturing PMI down in February

By Gokhan Ergocun

ISTANBUL (AA) - The euro area purchasing managers' index (PMI) for manufacturing sector posted a decline in February after hitting a five-month high in January.

The Eurozone manufacturing PMI dropped to 58.2 from 58.7 in January, London-based global data company IHS Markit said in a statement on Tuesday.

"Eurozone manufacturers continued to be restrained by lengthening supplier delivery times during February," the statement said, adding: "Latest survey data continued to highlight strong pricing power among price setters, with steep rates of both input cost and output price inflation persisting."

Joe Hayes, senior economist at IHS Markit, said that the inflation continues to have a strong impact on markets.