The Euro area economy edged closer to stagnation at the start of 2019, with businesses reporting the weakest rise in output for five-and-a-half years and the first fall in demand for over four years, showed the latest manufacturing activity survey from IHS/Markit research released this Thursday.
According to the preliminary ‘flash’ reading, the IHS Markit Eurozone Composite PMI fell to 50.7 in January from 51.1 in December – the lowest since July 2013.
Meanwhile, flash Euro-zone Services PMI Activity Index fell to a 65-month low level of 50.8 in January as compared to 51.2 recorded in December. Adding to the disappointment, flash Euro-zone Manufacturing PMI dropped to 50.5 during the reported period, recording a 50-month low and down from 51.4 in December.
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