The services sector in the eurozone is growing for the first time since July in January

Data issued by Eurostat showed that the services PMI in the eurozone rose to 50.8 points in January, compared to 49.8 points in December, the first time that the index rose above 50 points since July.

The composite PMI, which is seen as a good measure of overall economic health, rose to 50.3 points in January from 49.3 points in December, the highest level in seven months. The data showed that the production price index rose to 62.0 points in January, compared to 61.0 points in December, and the future production index rose to 60.4 points in January, compared to 55.5 points in December.