Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexEconomic EventsPress releases

Euro-Zone Business Activity Shrinks at Slowest Rate in 10 Months

share with twitter share with LinkedIn share with facebook
share via e-mail
02/05/2013 | 10:49am CEST

By Alex Brittain

Business activity in the euro zone shrank at its least severe rate in 10 months in January, adding to signs that while the crisis-hit economy is still weak, it may have passed its worst point.

Resilience in the currency bloc's economy was largely thanks to solid growth in Germany, a survey from data firm Markit showed Tuesday, whereas activity among French businesses fell at its sharpest rate in almost four years.

"The euro zone is showing clear signs of healing, with the downturn easing sharply in January and the region moving closer to stabilization in the first quarter," said Chris Williamson, Markit's chief economist.

The firm's composite Purchasing Managers' Index for the euro zone rose to 48.6 in January from 47.2 in December. The sub-50 reading means activity across the manufacturing and services industries was shrinking in January, but at the slowest rate in 10 months. Tuesday's results were better than a preliminary estimate of 48.2 published last month.

Evidence of German resilience in Tuesday's surveys is backed by polls of businesses in Europe's largest economy, which have strengthened sharply in recent months. Although other countries are yet to show similar signs of a rebound, strength in Germany could benefit the euro zone as a whole due to the countries' strong trade ties. If the bloc's economy does recover it would ease the burden on governments currently struggling to balance their public finances, and make it easier to resolve the debt crisis that has pushed several member states, including Greece and Portugal, to succumb to international bailouts.

Write to Alex Brittain at [email protected]

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Economy & Forex"
11:06a ICC INTERNATIONAL CHAMBER OF COMMERCE : Ajay Thomas appointed Vice-Chair of ICC India Arbitration Group
11:06a IMPORTING LIVE ANIMALS OR ANIMAL PRODUCTS FROM NON-EU COUNTRIES : general licences and authorisations
11:06a MINISTRY OF FOREIGN AFFAIRS OF UNITED ARAB EMI : UAE Ambassador attends World Food Day celebrations in Italy.
11:06aDJU.K. Workers' Real Wages Record Sixth Straight Drop in August
11:01a MINISTRY OF FOREIGN AFFAIRS AND TRADE OF HUNGARY : Hungarian Foreign Minister receives Vice President of International Gas, ExxonMobil International Ltd
11:01a EBRD EUROPEAN BANK FOR RECONSTRUCTION AND DEVELO : sets new milestone in renewable energy financing
10:56a INSURANCE EUROPE AISBL : Insurers’ role in increasing cyber resilience
10:56a UNEP UNITED NATIONS ENVIRONMENT PROGRAMME : Spain signs up to UN Clean Seas campaign
10:52a UK watchdog tells EU not to disrupt funds industry
10:50a Norway's wealth fund objects to proposed changes in UK stock-listing rules
Latest news "Economy & Forex"