The eurozone's services economy enjoyed its fastest upturn since August 2007 in February, albeit one marked by fast-rising inflationary pressures and a subdued labour market, business surveys showed on Thursday.
The Markit Eurozone Services Purchasing Managers' Index (PMI) rose to 56.8 in February from 55.9 the previous month, revised slightly lower from a preliminary reading of 57.2 but still its best showing since the eurozone exited recession.
February marked the 18th month the services PMI, which measures the activities of companies ranging from banks to hotels, has been above the 50 mark dividing growth from contraction. Prices charged by eurozone service sector firms rose for only the second time in 28 months, with that component of the survey leaping to 52.8 in February from 49.8 in January.
Euro zone inflation jumped to 2.4 percent in February, following a series of statements last month from European Central Bank policymakers reaffirming their commitment to maintaining price stability. The PMI showed input price growth rose to its highest since September 2008.
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