The eurozone economy showed signs of a nascent recovery at the start of the year after a contraction in business activity eased slightly and price pressures intensified, according to a closely watched survey of companies.
S&P Global’s flash eurozone composite purchasing managers’ index, a measure of activity at businesses across the bloc, rose to a six-month high of 47.9, up from 47.6 a month earlier, after an improvement in manufacturing offset a deeper decline in services.
Economists polled by Reuters had forecast a bigger rise to 48. The eighth consecutive reading below the 50 mark that separates contraction from expansion indicates the eurozone remains stuck in a rut at the start of this year after stagnating for much of 2023.