Eurozone Business Activity Rebounds

In a promising turn of events, the euro area's private sector has bounced back to growth in January, as per the latest preliminary report by S&P Global. The composite Purchasing Managers' Index (PMI) has edged just above the no-change mark, registering at 50.2, marking a five-month high.

Service and Manufacturing Sectors Show Mixed Signals

While the service PMI experienced a slight dip, decreasing by 0.2 points from December to 51.4, the manufacturing sector showed signs of recovery. The manufacturing indicator gained a point, reaching 46.1, which stands as the highest reading in eight months.

More updates to follow...