EU Markit Composite Flash PMI (Jan) 52.4 vs. Exp. 52.6 (Prev. 53.3)

• "The Omicron wave has led to yet another steep  drop in spending on many consumer-facing  services at the start of the year, with tourism, travel  and recreation especially hard hit."
• "However, so far the overall impact on the wider economy appears relatively muted, and most encouraging is the  further easing of manufacturing supply chain delays  despite the renewed virus wave"
• "“In the meantime, however, prices for goods and services are rising at a joint-record rate as increasing wages and energy costs offset the easing in producers’ raw material prices, dashing hopes of any imminent cooling of inflationary pressures.”

via IHS