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Eurozone private sector activity expanded for the eighth month in a row in January, but a troubling uptick in services inflation may complicate the European Central Bank’s interest-rate path this year.
The latest flash Purchasing Managers’ Index (PMI) surveys, published by Hamburg Commercial Bank (HCOB) and S&P Global, show that the region’s economy is still on a fragile growth path at the start of the new year.
The composite PMI for the euro area, which captures output across manufacturing and services, remained unchanged at 51.5 in January, slightly below expectations of 51.8….
