Eurozone composite PMI declines in January: Markit
For the region’s main economies, Germany’s composite PMI declined to a preliminary reading of 54.5 in January from a reading of 55.5 in the previous month. According to Markit, France’s composite PMI climbed to 50.5 in January from a reading of 50.1 in December, but still remained below the levels recorded before the November 13 attacks in Paris.
Recently, the International Monetary Fund (IMF) cut their global growth forecasts. However, for the eurozone economy, the fund expects to see a growth rate of 1.7% in both 2016 and 2017, up 0.1% from earlier forecasts.
Previously, Eurostat data showed that the eurozone economy grew 0.3% in the third quarter owing to rising household spending. Economic growth slowed for the second consecutive quarter in the July-September period, although recent business surveys and confidence measures signal acceleration for the final quarter of 2015.
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