The eurozone started 2018 with a further acceleration of growth to a near 12-year high, accompanied by the largest payroll gain since 2000 and the highest price pressures for nearly seven years. The headline IHS Markit Eurozone PMI rose to 58.6 in January, according to the 'flash' estimate (based on approximately 85% of final replies), up from 58.1 December and its highest since June 2006.

An acceleration of service sector growth to the fastest since August 2007 was partly countered by a slowdown in manufacturing output growth, though the latter remained very buoyant. The latest three months have seen the strongest factory output increase since 2000.