MW: Euro-zone composite PMI rises to six-month high
By William L. Watts
LONDON (MarketWatch) -- The composite purchasing managers index for the euro zone rose to a six-month high of 56.3 in January, up from 55.5 in December, Markit Economics reported Monday. A reading of more than 50 indicates growth in activity, while a figure of less than 50 signals contraction. The acceleration in overall economic activity was led by the services sector. Services PMI rose to 55.2 in January from 54.2 in December. Manufacturing PMI slipped to 56.9 from 57.1 in December. "The euro zone has started 2011 on a solid footing," said Chris Williamson, chief economist at Markit. National data, however, showed the divergence between Germany and the rest of the euro zone reached a new high, Williamson noted.
