Economic Buzz: Eurozone Private Sector Growth Eases In January

24 Jan 2022 , 03:07 PM

Eurozone flash composite output index slid to an 11-month low of 52.4 in January, from 53.3 in December, flash survey results from IHS Markit showed on Monday. The score was forecast to fall to 52.6. Nonetheless, a reading above 50.0 indicates expansion in the sector. The slowdown masked wide variations in the performance by sector. The service sector grew at the slowest pace since last April, while the manufacturing growth accelerated to the fastest since last August. The services Purchasing Managers Index came in at 51.2, down from 53.1 in the prior month. Meanwhile, the manufacturing PMI rose unexpectedly to 59.0 from 58.0 a month ago. The score was seen at 57.5. An alleviation of supply chain delays provided a welcome boost to manufacturing production.

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