Eurozone activity

BRUSSELS: Eurozone private sector business activity slowed sharply in January against a backdrop of volatile financial markets and uncertainty about the global outlook, a key survey showed on Friday. Data monitoring company Markit said its closely watched Composite Purchasing Managers Index (PMI) fell to 53.5 points in January from 54.3 in December, hitting an 11-month low. The reading was

still well above the 50-point boom-or-bust line, showing the 19-nation eurozone economy continued to expand overall. Markit Chief Economist Chris Williamson said ‘the cooling of business activity at the start of 2016 is a disappointment but not surprising given the uncertainty caused by the financial market volatility seen so far this year’.