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Eurozone manufacturing downturn cools in January
The slump in the eurozone’s manufacturing sector eased in January, with factory output and new orders declining at their softest rates since last April. Cutbacks to purchasing activity, stocks of inputs and employment also cooled, while business confidence rose to a nine-month high. Decreases in both input costs and output prices gathered momentum in January, despite suppliers’ delivery times lengthening for the first time in a year following disruption to ships passing through the Red Sea. The HCOB Eurozone Manufacturing PMI, compiled by S&P Global, rose to 46.6 in January, up markedly from 44.4 in December to ... (full story)