Eurozone Growth Slows As Omicron Hits Services, But Manufacturers Benefit From Easing Supply Constraints

27 January 2022

Eurozone business activity growth slowed for a second successive month in January as the spread of the Omicron variant took an increasing toll on the region’s economy. The headline IHS Markit Eurozone Composite PMI dropped for a second month running at the start of 2022, down from 53.3 in December to 52.4 in January, according to the estimate. However, the slowdown masked wide variations in performance by sector. Service sector output growth slowed sharply for a second month running, dropping to its lowest since last April, amid soaring COVID-19 infection rates. Flash Eurozone Services PMI Activity Index at 51.2 (53.1 in December). Manufacturing growth meanwhile accelerated to the fastest since last August. Flash Eurozone Manufacturing PMI Output Index at 55.8 (53.8 in December).
Source: Markiteconomics
Post by: Republic of Turkiye Ministry of Trade