Eurozone manufacturing downturn eases in January as Germany returns to growth
Feb 1st, 2012 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The downturn in the Eurozone manufacturing sector eased further at the start of 2012. The seasonally adjusted Markit Eurozone Manufacturing PMI (Purchasing Managers' Index) rose for the second month running in January. Although below 50.0 and therefore still signalling a worsening of business conditions, the index hit a five-month high of 48.8, up from 46.9 in December and just above the earlier flash estimate of 48.7. Signs of recovery were seen in Germany and Austria, where PMIs rose back above the 50.0 no-change mark. Rates of contraction eased in Italy, Spain and the Netherlands.