BREAKING NEWS

PMIs: Worst of euro zone's downturn may have passed

By REUTERS

JANUARY 4, 2013 11:55

LONDON - Tentative signs emerged in December that the euro zone economy may have passed the worst of its downturn, although a recovery still looks some months away, a business survey showed on Friday.

Markit's Eurozone Composite PMI, which gauges business activity across thousands of companies, rose in December to 47.2 from 46.5 in November. The headline figure was revised down slightly from an initial reading of 47.3.

While lingering below the 50 line dividing growth from contraction for an 11th month, December's reading was the highest since March last year.

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