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Euro area private sector growth stabilizes in January

Euro area private sector growth stabilizes in January

Business activity in the euro area private sector slowed stability in January, as the improvement in the manufacturing was offset by the slowdown in the services, IHS Markit data released on Friday showed.

The flash composite purchasing managers index (PMI) remained unchanged at 50.9 January, compared to analysts' forecasts of 52.1.  

The manufacturing sector managed to narrow its contraction to 47.8 from an upwardly revised of 46.3, while the services PMI retreated to 52.2 from 52.8.  

Next week, the advanced GDP data for the fourth quarter may signal a 0.2 percent growth in the 19-nation region, similar to both prior and preliminary.  

As of 09:18 GMT, the euro recovered from a low of $1.1042 to trade at $1.1050, yet still set to record the fourth weekly decline in a row.

After a short while, ECB President Christine Lagarde will participate in a panel discussion titled "Global Economic Outlook" at the 2020 World Economic Forum in Davos.

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