The HCOB Eurozone Manufacturing PMI was confirmed at 50.8 in February 2026, up from January’s 49.5, marking the strongest improvement in operating conditions for euro area factories since June 2022. Manufacturing output rose again, and new orders increased at the fastest pace since April 2022, while exports declined at the slowest rate in three months. Despite the gains, employment continued to fall, and backlog reductions moderated. Purchasing activity nearly stabilized, with the pace of decline slowing for a second consecutive month. On the price front, input cost inflation surged to a 38-month high, while output prices rose for a second consecutive month, the first back-to-back increase in nearly three years, with the latest rise the sharpest since March 2023. Business confidence climbed to a four-year high, signaling optimism for the months ahead.
