Economic growth in the euro area rose to an 11-month low in January

By: Trademagazin editor Date: 2022. 01. 24. 11:03

Economic growth in the euro area slowed at a slightly slower pace than expected in January, with the preliminary rise in the Purchasing Managers’ Index at the IHS Markit in London on Monday showing the smallest increase in eleven months.

Euro area PMI falls to 11-month low

Of the euro area purchasing managers’ indices (PMI), the manufacturing index performed better than expected in January, strengthening from the previous month. However, the value of the service industry index and the composite index decreased more than expected compared to December.

Manufacturing PMI rose to a five-month high of 59.0 points in January, up from 58 points in December. Experts expected the indicator to deteriorate to 57.5 points in January. (MTI)