Euro-zone PMI signals downturn eased in January

FRANKFURT (MarketWatch)
Private-sector activity across the 17-nation euro zone continued to shrink in January, but at the slowest pace in ten months, according to the Markit composite purchasing-managers' index for the region released Thursday
The index rose to 48.2 from a December reading of 47.2
Economists surveyed by Dow Jones Newswires had forecast a reading of 47.6
A reading of less than 50 indicates a contraction in activity
The PMI for the services sector rose to 48.3 in January from 47.8, while the manufacturing PMI rose to 47.5 from December's 46.1