Euro area private sector eased in January as the Omicron variant of COVID-19 constrained activity, most notably across the service sector, final survey data from IHS Markit showed on Thursday. The composite output index dropped to 52.3 in January from 53.3 in December. The flash score was slightly below the flash 52.4. The indicator signaled the weakest increase in business activity since the index moved back into growth territory last March. The services Purchasing Managers Index came in at 51.1, down from 53.1 in December and the flash 51.2. The weaker expansion in January reflected softer growth among service providers, as manufacturing output increased at a faster pace.
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