Eurozone recovery remains weak as January PMI shows slight rise in private sector activity

The index for the services sector fell to 51, while the purchasing managers' index for the manufacturing sector rose to 49.4. The overall purchasing managers' index was thus unchanged at 51.5, slightly below Bloomberg's average analyst forecast. An index number above 50 indicates increasing activity.

“The recovery still seems quite weak,” HCOB economist Cyrus de la Rubia said in a comment.