The euro area manufacturing sector growth slowed as estimated in January with rates of expansion in output, new orders and new export business all easing at the start of the year, final survey data from Markit showed Monday.
The final manufacturing Purchasing Managers’ Index fell to 52.3 in January from 53.2 in December. The reading matched flash estimate.
Nonetheless, PMI has now remained above the neutral 50.0 mark for 31 consecutive months.
National PMI indices showed that rates of expansion slowed in two of the big-three euro area industrial nations namely Germany and Italy, and fell back to the stagnation mark in France.
Germany’s manufacturing sector expansion was the slowest since last October. The Markit/BME manufacturing PMI fell to 52.3 from 53.2 in December. The flash score was 52.1.
The French manufacturing sector stagnated at the start of the year as the final PMI dropped to a five-month low of 50 as estimated in January. It was down from 51.4 in December.
The material has been provided by InstaForex Company – www.instaforex.com