In February this year, the level of business activity in the euro area countries increased at the fastest rate for nine months. The main activity in the last month of winter occurred in the service sector, but the overall contribution was also made by industrial enterprises in the region, said Bloomberg agency with reference to research results of analysts of S&P Global.

The positive dynamics of business activity in the region may reduce the risks of economic recession in the euro area at the end of the first quarter of this year. Growth in the index contributed to the reduction of inflation in European countries, the article specifies.

The better-than-expected performance was driven by services, which saw the strongest growth since June. Industrial production also improved as supply chain bottlenecks further narrowed. Activity increased across the region, including France and Germany, the piece concluded.