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Home BUSINESSEurozone business activity expansion hits 11-month low in Jan.
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Sat, 23 Jan, 2016 12:00:00 AM
FTimes- Xinhua Report Jan 23
 
File Photo AFP-Lehtikuva
The business activity of 19-country Eurozone continued to see a welcoming expansion in January but the pace hit a record slow in recent 11 months, a key business survey showed on Friday.
 
     The composite Purchasing Managers Index (PMI) in the bloc dipped to 53.5 points in January, although well above the 50-point boom-or-bust line and signalling expansion, it marked the weakest since February of last year, said data monitoring company Markit.
 
     Last month, the composite PMI in the single currency bloc stood at 54.3.
 
     January's business activity expansion was led by the service sector, said Markit, the services PMI in Eurozone stood at 53.6, recording a 12-month low. Meanwhile, the Manufacturing PMI decreased to 52.3 from the 53.2 in December.
 
     News on the labor market were better, said the survey, adding that the ongoing expansion helped employment growth held steady at the four-and-a-half-year high seen in December.
 
     The growth in Germany, the bloc's powerhouse, slowed to a three-month low, easing across both manufacturing and services, though it continued to act as a major source of growth for the region as a whole.
 
     Although dipping compared to December, the rate of job creation in Germany remained especially strong, and the second-highest seen for just over four years, said Markit. 
 
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