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01.02.2013 10:43

Eurozone January manufacturing activity eases less than estimated


Eurozone manufacturing activity contracted less than initially estimated in January, final data from Markit Economics showed Friday.

The Final manufacturing Purchasing Managers Index came in at 47.9 in January, up from 46.1 in December and slightly above the flash estimate of 47.5.

"The Eurozone economic picture continues to brighten, with the final reading of the manufacturing PMI for January coming in ahead of the earlier flash estimate," Chris Williamson, chief economist at Markit said.

The index reading reached the highest level in 11 months, but the sector remained in negative territory for one-and-a-half years. There remained wide disparities between the performances of the member nations, it showed.

Eurozone manufacturing production contracted for the eleventh successive month in January. Incoming new orders, at the same time, fell solidly in January.

Employment continued to decrease, and at the fastest rate since last October. Meanwhile, price pressures remained subdued in January.


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