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2/1, 10:02 AM (Source: TeleTrader)
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Eurozone's manufacturing PMI at 58.7 in January

The Eurozone Manufacturing Purchasing Managers Index (PMI) came in at 58.7 in January, going up by 0.7 compared to December's revised figure and reaching its highest level since August, IHS Markit stated in its report published on Tuesday.

The report shows the eurozone manufacturing sector recovering momentum at the beginning of 2022, with a visible increase in the areas of production, new orders and employment. Still, these improvements continued to be shadowed by supply chain issues, with registered deterioration in vendor performance.

"Eurozone manufacturers appear to be weathering the Omicron storm better than prior COVID-19 waves so far, with firms reporting the largest production and order book improvements for four months in January," Chris Williamson, Chief Business Economist at IHS Markit, commented on the results.

Baha Breaking News (BBN) / SP