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The dollar fell against other major currencies , aided published in U.S. statistics. As shown by recent data that were presented Automatic Data Processing (ADP), in February, employment in the private sector increased markedly , although not enough to confirm the evaluation of many economists. According to a report last month, the number of employees increased by 139 thousand people, compared with a revised downward indicator for the previous month at 127 million ( initially reported growth of 175 thousand jobs ) . Add that, according to the average forecast of this indicator would grow by 159 thousand
In turn, in February, the index of business activity in the U.S. service sector (ISM Non-Manufacturing) fell to 51.6 points , the minimum for the last four years , with 54 points in January , according to the Institute for Supply Management (ISM). According to experts , the value of this indicator was reduced to 53.8 . Exceeding the index level of 50 points indicates growth of business activity in the service sector , while the index value below 50 indicates its decline. All major sub- indices , except one, were in February in the territory of the expansion (more than 50 ) , and some even showed an increase .
The euro is traded slightly higher against the U.S. dollar. Impact on the dynamics of the reported data for the euro area , namely on business activity and GDP . Note that the eurozone economy expanded at a faster pace in the fourth quarter , and confirmed the initial assessment and expert forecasts , helped by an increase in investment and exports. The report showed that gross domestic product grew by 0.3 percent in the fourth quarter, which was in accordance with the assessment , published on February 14. Recall that in the third quarter the economy expanded by 0.1 percent . In annual terms, gross domestic product grew by 0.5 percent after a 0.3 percent drop in the third quarter . Annual rate was also consistent with the preliminary assessment and expert forecasts .
Another report showed that the private sector of the eurozone economy expanded in February , registering with the highest growth in the past two and a half years in February. Last growth was also higher than previously assumed, and the current sequence of growth increased to eight consecutive months. According to the report , the composite activity index from Markit, which evaluates the effectiveness of the manufacturing sector and the service sector , rose to 53.3 in February from 52.9 in January , marking the most significant improvement in business activity in June 2011 . The revised estimate was higher than previously thought - at the level of 52.7 . The index currently remains above the neutral mark of 50 for the eighth month in a row. The rise in the total private sector activity was associated with an increase in the manufacturing sector . Meanwhile, it was reported that the seasonally adjusted purchasing managers' index (PMI) for the services sector rose to 52.6 in February from 51.6 in the year. Originally reported value of this index at 51.7 . Economists were expecting the index to be 51.7 points .
Pound has risen considerably against the U.S. dollar , which helped the submitted data and expectations of tomorrow's meeting of the Bank of England. As it became known , the UK services sector continued to show a steady expansion in February , but a little slow pace compared to the previous month. Support the sector continued to provide a significant increase in new orders. Data showed that the PMI for the services sector by Markit Economics fell to 58.2 in February from 58.3 in January. The latter value was the lowest since June last year , but continue to show a sharp increase in activity on a monthly basis . Economists were expecting the index to fall to 58.0 . We add that the growth recorded for 14 consecutive months. Recent increase in activity was supported by new orders . Since the number of orders continued to grow rapidly , the company decided to raise the number of staff in accordance with the current volume and future activities .
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