Eurozone economic data shows contraction in January

Eurozone economic data shows contraction in January 150 150 Realm

Eurozone data released this morning shows that economic activity contracted markedly in January. Markit’s flash composite PMI fell to 47.5, from 49.1 previous month, reflecting the affect of further lockdown restrictions imposed across the region.

On Thursday, the ECB kept interest rates unchanged but said it is ready to take further action if it is considered necessary.

UK and European stocks are lower this morning. Investors are monitoring developments in the US re the new stimulus plan and global coronavirus numbers.

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