In January, Markit Economics' flash estimate of theEurozone manufacturing PMI records growth to 53,9 points (consensus at 53), from 52,7 in December. This is the best increase in 32 months. The data relating to the services rose from 51,0 to 51,9 points, while in the same period the index composite (which includes both manufacturing and services) rose from 52,1 to 53,2 points, the highest in 31 months (June 2011). The 50-point threshold marks the boundary between expansion and contraction.
The private sector in the Eurozone, comments Markit, grew for the seventh consecutive month, with the growth rate accelerating to the highest level since June 2011.
As for individual countries, the preliminary data relating to the manufacture of Germany it exceeded analysts' estimates. The preliminary PMI index rose, again between December and January, from 54,3 points to 56,3 points (consensus at 54,6 points). The survey on services, on the other hand, settled at 53,6 points, slightly above the previous reading, equal to 53,5 points, but lower than expected (54 points).
In France, Markit Economics has announced that the preliminary data of the PMI manufacturing index stood at 48,8 points, exceeding the expectations of insiders, who had estimated an index equal to 47,5 points. The figure was up on the previous survey, equal to 47,0 points, indicating a slowdown in the contraction of manufacturing activity, on the highest levels since October.
