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EUROZONE ECONOMIC DEVELOPMENT BETTER THAN EXPECTED
February 5, 2013 - 14:44 AMT
PanARMENIAN.Net - Further evidence has emerged that the economy of
the 17 European Union countries that use the euro has started 2013
better than many people had expected, The Associated Press reports.
Markit, a financial information group, says Tuesday, Feb 5, that its
monthly purchasing managers' index for the eurozone's services sector
- a closely-watched gauge of activity - rose to a ten-month high of
48.6 in January from 47.2 in December.
Though the index remains below the 50 mark that would indicate
expansion, the survey does echo findings elsewhere that the eurozone
economy may be over the worst. Markit's equivalent manufacturing
survey last Friday was similarly encouraging.
Though figures next week are expected to show the eurozone remained
in recession in the final quarter of 2013, there are hopes a recovery
may take root by summer.
February 5, 2013 - 14:44 AMT
PanARMENIAN.Net - Further evidence has emerged that the economy of
the 17 European Union countries that use the euro has started 2013
better than many people had expected, The Associated Press reports.
Markit, a financial information group, says Tuesday, Feb 5, that its
monthly purchasing managers' index for the eurozone's services sector
- a closely-watched gauge of activity - rose to a ten-month high of
48.6 in January from 47.2 in December.
Though the index remains below the 50 mark that would indicate
expansion, the survey does echo findings elsewhere that the eurozone
economy may be over the worst. Markit's equivalent manufacturing
survey last Friday was similarly encouraging.
Though figures next week are expected to show the eurozone remained
in recession in the final quarter of 2013, there are hopes a recovery
may take root by summer.