Weak economy in January in the euro zone

Weak economy in January in the euro zone

As in the whole year 2019 in the euro zone the weak economy continues.

The growth of the euro zone economy continues weak in January due to the little dynamism of the increase in new orders, according to the PMI index published Friday by the consultancy Markit.

The index remained in January at 50.9 points, slightly above the 50 points that make the difference between growth and decrease but still at the weakest level of the last six and a half years.

Markit explains that growth continues to come from services, which in January have slowed their expansion, while manufacturing production, although still down, experiences the smallest decline in the last five months.

The weakness of the increase in new orders is the element that explains the low growth, the consultant details, adding that there are indications that the volume of orders in the manufacturing sector is close to stabilization.

Despite this situation, companies show the highest level of optimism in the last sixteen months, especially since the industry believes that the worst part of the slowdown has been left behind, which has accelerated the pace of hiring employees.

Costs have risen again in January, especially the services sector, and companies have increased their sales prices again.

Markit emphasizes that the economies of France and Germany have started the year in a positive tone, by achieving the greatest increases in activity in the last five months, while weakness remains in the rest of the euro zone.

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