Eurozone private sector rebounds

Eurozone private sector rebounds

BRUSSELS - Agence France-Presse
Private sector activity in the eurozone rebounded to growth in January after four consecutive months of contraction, a key survey showed yesterday, as Germany and France both expanded.

The flash reading of the purchasing managers’ index (PMI), compiled by Markit research firm, for the eurozone jumped to 50.4 points from 48.3 points in December.

Any score in the survey of 4,500 manufacturing and services firms above 50 indicates growth. The flash reading is based on about 85 percent of total replies.

“Output rose at a robust pace in Germany, which saw the largest increase for seven months, and a modest expansion (the first growth for four months) was also reported in France,” Markit said in a statement.

“In contrast, output continued to fall across the rest of the region as a whole, dropping for the eighth consecutive month,” said Markit.