London, Monday, 24 January 2022 -
According to a preliminary estimate, the IHS Markit Eurozone Composite PMI fell to 52.4 in January 2022, down from 53.3 the previous month and slightly below market forecasts of 52.6.
As the services sector was hammered by further COVID-19 limitations, the latest estimate indicated a second consecutive month of declining economic activity, with the rate of expansion hitting an 11-month low. Manufacturing output, on the other hand, increased for the first time in five months, indicating that supply chain delays are easing.
While backlogs of work continued to expand and the rate of job creation remained steady, new order growth slowed to its slowest pace since the upturn began last March.
In terms of prices, average selling price inflation increased in January, matching the survey's all-time high from November. Finally, for the second month in a row, future expectations improved modestly.
Source: Markit Economics
(Edited by: The Decision Maker)
