Euro zone economy hits 'speed bump' in February on rising prices: PMI

The euro zone's economic boom paused last month as rising prices took a toll on demand, but the zone remains on course for its best growth in eight years, a survey showed on Monday.

Growth was robust and broad, with countries across the region reporting expansion, welcome news to the European Central Bank as it looks to end its ultra-easy monetary policy.

HIS Markit's Final Composite Purchasing Managers' Index, seen as a good overall indicator of growth for the euro zone, fell to 57.1 in February from January's 58.8 and down from the flash estimate of 57.5.

January's reading was a level not seen since June 2006. But the slight slip last month leaves the PMI well above the 50 mark that separates growth from contraction.

"The euro zone economy looks to have hit a speed bump in February after a stellar start to the year. It's too early to read too much into the February fall in the PMI, and some pull-back from January's high was always on the cards," said Chris Williamson, chief business economist at HIS Markit.