The performance of the euro area private sector remained depressed in January

Eurozone private sector performance has been depressed in January, but there are signs that it has surpassed the worst, as revealed by preliminary Purchasing Manager Indexes for IHS Markit’s London-based financial and economic reporting group.

The euro area’s Manufacturing Purchasing Manager Index rose to 47.8 points, to a nine-month high, from the 46.3 points of December. This is good news as analysts expected a slight improvement of 46.8 points. (MTI)