President of the European Central Bank Mario Draghi arrives prior to a round table meeting of Eurogroup finance ministers at the EU Council building in Brussels on Monday, Feb. 20, 2017. The eurozone's 19 finance ministers will be looking to defuse the risk of another Greek crisis as they try to agree Monday on what reforms Greece must still take to qualify for more loans. (AP Photo/Thierry Monasse) (The Associated Press)
LONDON – A closely watched survey is showing that the economic recovery in the 19-country eurozone has accelerated in February and that growth is running at a near six-year high.
In its monthly survey of economic activity across the region, financial information company IHS Markit also said Tuesday that job creation was the best for nine-and-a-half years, as order books and business optimism continued to pick up.
The firm's purchasing managers' composite output index — a broad gauge of economic activity — spiked to 56.0 in February from 54.4 the previous month. The index now stands at its highest level since April 2011, which points to potentially robust quarterly growth of 0.6 percent in the first three months of the year if sustained in March.
The survey also pointed to rising inflation.
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