Business activity in the euro area fell to a minimum since July 2013

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Eurozone PMI index almost reached stagnation in early 2019. Companies faced minimal growth in production since 2013 and the first decline in demand for the first time in four years, IHS Markit reports. Business activity in 19 European countries fell from 51.1 points in December to 50.7 points in January. The fall of the index below 50 points indicates a decrease in activity, above - an increase. PMI in services fell from 51.4 points to 50.5 points, reaching a minimum of 50 months. Services and manufacturing are approaching stagnation, according to IHS Markit chief economist, Chris Williamson. As reasons for the decline in activity, he cited concerns about Brexit, the weakness of the automotive sector, the US-China trade war, and disorders in France. The fall in demand was recorded for the first time since November 2014, and the volume of exports fell for the fourth month in a row. At the same time, employment growth and job creation rates have declined. The European country in which the PMI went up, regardless of the overall indicators, is Germany. The value of PMI in the country increased from 51.6 to 52.1 points. The PMI index of the service sector also increased, but the index of manufacturing activity went down.

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