Quotes from Standard Chartered:
-We expect the euro-area composite PMI to tick down in February to 52.5 from 52.6 prior. In January, the increase was led by a spike in the German services PMI to 54.0, which we believe will come in softer.
-In February the conflict in Ukraine escalated, which led to a ceasefire agreement late last week, but we believe sentiment was dented. Uncertainty about the continuat ion of the Greek adjustment programme and the possibility of Grexit might have also have negatively hit sentiment.
-However, we still believe that the near-term outlook for euro-area growth is positive due to the strong tailwinds of a weaker euro and easier credit conditions owing to lower energy prices and the European Central Bank's quantitative easing.
