Eurozone business activity fell for the ninth month in a row, but the rate of decline eased further from January, a closely-watched survey showed Thursday.

The HCOB Flash Eurozone purchasing managers' index (PMI) published by S&P Global recorded a figure of 48.9 in February from 47.9 in January. This is the smallest rate of decline since June 2023. A figure below 50 indicates contraction.