Eurozone private sector business activity slowed sharply in February, a closely watched survey said on Monday, with a warning that the economic outlook could weaken even further.

Data monitoring company Markit said its closely watched Composite Purchasing Managers Index (PMI) fell to 52.7 points in February from 53.6 in January, hitting a 13-month low.

The reading was still above the 50-point boom-or-bust line, showing the 19-nation eurozone economy continued to expand, albeit at a slower pace.