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  • Economic Buzz: Eurozone Private Sector Contracts At An Accelerated Pace
  • January 22,2021  16:15
  • Eurozone private sector activity contracted at an accelerated pace in January amid the ongoing pandemic and related restrictions, flash data from IHS Markit showed Friday. The composite output index dropped to 47.5 in January from 49.1 in December. The score signaled third successive contraction and the largest fall since November. The rate of factory output growth weakened to the slowest since the recovery began and the service sector saw output fall at the second-fastest rate since May. The factory Purchasing Managers Index or PMI fell to 54.7 from 55.2 in the previous month. The services PMI eased to 45 from 46.4 in December.

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