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Eurozone private sector activity up slightly in January
03.02.2012
Categories:
Eurozone, European Union
Eurozone private sector activity up slightly in January
A new report has shown that the eurozone's private sector economy stopped a four-month decline in January.
Markit's Eurozone Composite Purchasing Managers' Index (PMI) rose in January to 50.4 from 48.3 the previous month.
Any figure above 50 means that activity rose.
According to Markit, this may indicate that the eurozone economy could yet avoid falling into a second quarter of contraction, which would be the definition of a recession.
“It is encouraging to not only see signs that the German economy has sprung back into life, but also that the rate of decline in the periphery has started to ease quite substantially,” said Chris Williamson, chief economist at Markit.
A lot, however, depends on how the eurozone manages its sovereign debt crisis, he added.
“Any setbacks in current negotiations could easily cause confidence to slump again.”
Karina Corbett
Categories:
Eurozone, European Union