According to data provider Markit, the flash composite purchasing managers index for the euro zone fell to 53.6 in January from 54.2 in December. That reflected a decline to 52.3 in the services sector index from December’s 26-month high of 53.6, although the measure for the manufacturing sector increased to 52.0 from 51.6 a month earlier, its strongest performance for 22 months.(…)
But despite January’s decline in activity, firms remained confident about future demand, with the services sector business expectations index jumping to 68.2 from December’s 65.7. Companies also recorded the lowest level of job losses for 15 months, Markit data showed.
Chris Williamson, chief economist at Markit, said the positive news on hiring was "encouraging" and stressed that the easing in the rate of growth should be put in the context of the adverse weather that affected many businesses during the month.
Separate PMI surveys showed that the euro-zone index reflected a steady performance in Germany, where the manufacturing sector picked up strongly, although the services sector fell back. In France, the composite index eased back a little but remained close to 60, representing healthy economic growth.(…)
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