Eurozone PMI surprise
The leading composite Purchasing Managers’ Index (PMI), which measures the manufacturing and service sectors together, which is seen as an indicator of the state of the euro zone economy, was posted at 50.2 in January, up from expectations, pointing to growth for the first time. time since june.
The Eurozone Composite PMI data reinforced signs that the economic downturn may not be as severe as feared and that the Eurozone could recover from the recession.
Last month, the final data was announced at 49.3. Economists had forecast the composite PMI to be 49.8 in January. The service sector sub-index was announced at 50.7 in January, above expectations of 50.2.
The manufacturing PMI, on the other hand, came in at 48.8 in January, above expectations of 48.5. In these data, above 50 points indicates growth, below indicates contraction. (Reuters)
Source: Sozcu
Andrew Dwight is an author and economy journalist who writes for 24 News Globe. He has a deep understanding of financial markets and a passion for analyzing economic trends and news. With a talent for breaking down complex economic concepts into easily understandable terms, Andrew has become a respected voice in the field of economics journalism.
