Business Index Shows Business Improvement In Eurozone

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The countries belonging to the Eurozone have something to boast about concerning their business sector. It has been reported that Eurozone has had a good improvement in business sector. The news were released after business index showing in January that the countries belonging to Eurozone had a high growth in their economic activities.

Report released by Markit Economics says that the 18-nation group in Europe has had an improvement; the economy has moved higher the scale. Other months several countries experienced declines. According to Eurostat, a European Union’s statistics agency, retail sales dropped by 1.6 percent in December 2011, but later the economy improved.

Composite Purchasing Managers Index (PMI) of Ireland was the top most on the list in January. The nation had a composite PMI of 57.8, while Germany’s composite PMI was 55.5 making it number 2, then that of Spain was 54.8, coming third. Other top countries in the month were Italy and France. Italy’s composite PMI was 51.3 placing it in position 4 while that of France was 48.9 placing it in position 4

“The final reading of the eurozone PMI was down slightly on the earlier flash reading but nevertheless signals a very encouraging start to the year,” said Markit Chief Economist Chris Williamson. This must be an encouragement to the entire Eurozone, and even to the other countries in Europe as they work to improve their economic status.

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