The Eurozone’s private sector economic activity is improving, but only very marginally, according to the latest figures from the Reuters Eurozone Composite Output Index composed by NTC Research.

The barometer rose from 50.4 in December to 50.5 last month, remaining only very slightly above the 50.0 threshold between expansion and contraction. January’s reading reflects an acceleration of manufacturing output growth (from 50.1 to 51.0) and a deceleration of service sector expansion (from 50.6 to 50.2)

The other composite indexes (measuring both services and manufacturing) came in as follows:

New Business
Up very slightly from 50.2 to 50.3 (manufacturing 51.0, services 49.8). This component has been stuck just above the 50.0 mark for three months.

Slipped from 46.4 to 45.9 (manufacturing 46.3, services 45.6), signalling a sixteenth consecutive month of workforce decline.

Jumped from 52.5 to 55.1 (manufacturing 55.2, services 55.0), largely due to rising oil prices.

Data sourced from: NTC Research; additional content by WARC staff