One reason for the intensification of the recovery in the industry is to ease the shortage of components.
Eurozone the economic recovery slowed in January as the worsening coronavirus pandemic hit the services sector in particular.
According to preliminary data released on Monday, the purchasing managers’ index, which reliably forecasts economic growth, was 52.4 points in January. That’s at least 11 months.
The slowdown in recovery was strongest in the services sector, with an index of 51.2 points and in industry, 59.0 points. One reason for the intensification of the recovery in the industry is to ease the shortage of components.
Purchasing Managers the index is based on a survey of 5,000 companies and is one of the most important economic barometers.
If the index is above 50 points, it predicts GDP growth. If it is less than 50 points, GDP is likely to shrink.
“Omikronaalto has led to another sharp decline in consumption in consumer services at the beginning of the year. Tourism and leisure services have suffered the most, ”says an economist at IHS Markit, a research company that produces the index. Chris Williamson in the bulletin.
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