The Purchasing Managers’ Index (PMI) for the industry in January in the Eurozone was 46.6 points compared to 44.4 points a month earlier. This reading was better than the forecasts (44.8 points). In January, there is a rebound of the indicator’s value, but it still remains below 50 points. Particularly noteworthy is the growing trend in Germany where the index showed 45.4 points, the lowest was at 38.8 points in July. This level still indicates a decline in activity, but it possibly signifies that sentiments in the coming months will continue to improve, and the crisis in this sector will slowly reverse.
The PMI for services in January was 48.4 points compared to 48.8 points a month earlier. The services’ index has been at a similar level for several months. The reading was lower than the prognoses (49 points) which, overall, balances the rebound in the industry. The composite PMI index was 47.9 points compared to 47.6 points a month earlier. With respect to services, Germany also stood out where the index fell to 47.6 points from 49.3 points a month earlier and forecast of 49.5 points.
Bartosz Wałecki, Analyst, Michael / Ström Dom Maklerski
