Eurozone PMI Manufacturing was finalized at 48.8 in January, up from December’s 47.8, also a 5-month high. Manufacturing Output index was finalized at 48.9, up from December’s 47.8, a 7-month high.
Readings in all member states improved, including France at 50.5 (5-month high), Italy at 50.4 (7-month high), Ireland at 50.1 (3-month high), the Netherlands at 49.6 (5-month high), Greece at 49.2 (4-month high), Austria at 48.4 (4-month high), Spain at 48.4 (4-month high), and Germany at 47.3 (4-month high).
Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said: “Although euro area manufacturers continued to report falling output and deteriorating order books in January, sustaining the sector’s downturn for an eighth successive month, the picture is considerably brighter than the lows seen back in last October heading into the winter. Not only has the rate of output decline moderated now for three consecutive months, but business optimism about the year ahead has also surged higher over the past three months.”
