LONDON—Surprisingly strong services growth meant the recovery in eurozone business activity gathered steam this month, expanding much faster than thought, according to a survey on Tuesday, the latest evidence the currency union could escape a recession.
A sister survey showed businesses in Britain reporting an unexpected bounce in activity as well as receding price pressures, suggesting the economic outlook across Europe may be less gloomy than predicted.
S&P Global’s flash Composite Purchasing Managers’ Index (PMI) for the 20 countries that use the euro, seen as a good gauge of the bloc’s overall economic health, climbed to a nine-month high of 52.3 in February from January’s 50.3….