Euro-zone PMI shows small, unexpected bounce
LONDON (MarketWatch) — Purchasing managers indexes released Friday indicated activity in the euro-zone’s manufacturing and services sectors continued to shrink aggressively in January, but at a slower pace than December, news reports said. Euro-zone manufacturing PMI rose to 34.5 from a reading of 33.9 in December. Consensus expectations were for a further slide to 33, according to a Dow Jones Newswires survey of economists. Services PMI rose slightly to 42.5 from 42.1 in December, compared to expectations for a January reading of 41.5. Composite PMI also posted a small rebound to 38.5 from 38.2 in December. Expectations were for a reading of 37.4. A figure of less than 50 signals contraction, while a number above that level signals expansion.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
