2/3, 10:07 AM (Source: TeleTrader)
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Eurozone business activity sees 1st growth since June

The Eurozone Purchasing Managers' Index (PMI) Composite Output Index came in at 50.3 in January, beating expectations slightly reaching its seven-month high, S&P Global said in its report published on Friday. The figure grew from 49.3 registered in December and moved into expansion territory.

The Services Business Activity Index hit 50.8, its six-month high, rising from the previous month's 49.8.

"A resumption of business output growth, even marginal, is welcome news and suggests that the Eurozone could escape a recession. ... However, it remains too early to completely disregard recession risks. In particular, the impact of higher interest rates on economic growth has yet to be fully felt," S&P Global Market Intelligence Chief Business Economist Chris Williamson commented.

Baha Breaking News (BBN) / JR