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Eurozone PMI moves higher in January: Markit

by ChemOrbis Editorial Team -
  • 04/02/2015 (09:24)
According to a purchasing managers’ index (PMI) released by Markit Economics, manufacturing in the eurozone expanded in January in line with initial estimates. The region’s final PMI rose to a reading of 51 in January when compared to December’s reading of 50.6. Any reading above 50 indicates expansion.

Across the region, Italy’s PMI posted the strongest reading in four months with a reading of 49.9 in January. Analysts stated that all sub indices showed positive readings even though the country is still facing weak domestic demand. In France, the manufacturing index rose to an eight month high in January to post a reading of 49.2 compared with a reading of 47.5 in the preceding month. According to Markit analysts, the country continues to face significant challenges stemming from the fragile demand situation.

However, Germany’s PMI declined to a reading of 50.9 in January from 51.2 in December due to slower job creation. According to analysts, lower oil prices may spur additional growth in the German economy.
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