Euro Area Manufacturing PMI Data Rises

Developments in the Manufacturing Sector in the Eurozone

The international financial research firm S&P Global has announced the manufacturing industry PMI data for the Eurozone for January.

Increase in PMI in January

According to the data, the manufacturing sector in the Eurozone showed signs of recovery in January. The manufacturing PMI, which was 48.8 points in December, rose to 49.5 points in January, reaching its highest level in the last two months.

Above Market Expectations

Market analysts had expected the manufacturing PMI for the Eurozone to be 49.4 points in January. However, the announcement of this data, which came in above expectations, drew attention.

PMI data above 50 points indicates growth in the sector, while data below 50 points signifies contraction.