Euro zone private sector ends decline, jumps to 5-month high
The private sector in the euro zone ended a four-month decline in January and recorded growth, suggesting it may yet avoid a recession. Data published by Markit showed the services sector in the common currency area rose above 50 to a five-month high, but missed a previous flash estimate, while the composite index, also at a five-month high, was confirmed as estimated above 50, signalling growth.
PMI services rose to 50.4 in January from 48.8 in December, but lower than a flash estimate of 50.5. PMI composite was confirmed at 50.4, up from 48.3 in December.
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