European Business Activity Rises in December

Business activity in the euro zone expanded at its fastest pace since June 2011 in January, driven by the region’s burgeoning manufacturing sector.

Markit’s composite purchasing manager’s index (PMI) for the 18-nation currency zone rose to 52.9 in January, up from 52.1 in December. It was, however, lower than the flash estimate of 53.2 (a reading over 50 marks expansion).

Separate data, also published Wednesday, revealed that December was a tough month for the retail sector. Sales fell by 1 percent in the month compared to December 2012 – significantly lower than the 1.5 percent rise expected by economists.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza