Eurozone business growth at its weakest for a year

Eurozone private business growth increased at its weakest pace for over a year in February, much worse than expected, after activity slowed in Germany and contracted in France, a survey showed on Monday.

The survey, which also provided further evidence of price cutting, is likely to solidify expectations of more monetary policy easing from the ECB in March.

Growth and inflation risks were already on the rise, the minutes of the ECB’s January meeting showed, and some policy makers are advocating pre-emptive action.