Eurozone Growth Falters Further at the Start of 2019

AP photo by Michael Probst
Long exposure picture shows car lights of commuters driving down to the city of Frankfurt, Germany, Tuesday, Feb. 5, 2019.

LONDON (AP) — A closely watched survey shows that economic growth across the 19-country eurozone dipped further at the start of 2019 to its lowest level in five-and-a-half years.

Financial information company IHS Markit said Tuesday that its composite purchasing managers index — a gauge of business activity across the manufacturing and services sector — fell to 51.0 points in January from 51.1 the previous month. Anything below 50 indicates a contraction in activity.

As a result, the firm said its survey suggests that the eurozone is growing at a tepid 0.1 percent quarterly tick at the start of the year.

Chris Williamson, chief business economist at the firm, said a manufacturing and export-led slowdown has "shown increasing signs of infecting the service sector."


Source: AP


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