FXstreet.com (Barcelona) - Manufacturing activity has contracted slightly faster in January in the Euro Area, while services activity index edged up although it still remains well into contraction levels, according to the Purchasing Managers Index estimate.

Manufacturing sector's activity has accelerated its contracting pace on the month, PMI manufacturing , already into contraction levels for the last seven months, has declined to 33.0 in January from 33.9 in December.

Services PMI, instead, has edged up in January to 42.5, from 42.1 in December, against the experts estimations of a slight decline to 41.7.

Both Index remain in levels rather distant from the 50 level, which indicates the limit between expansion and contraction of the sector's activity.