the eurozone economy expanded in january for the first time in seven months according to a purchasing managers survey adding to signs that the region could face a milderthanexpected downturn this winter or even avoid a recession the sp global flash eurozone pmi composite output index which gauges activity in the manufacturing and services sectors increased to 502 in january from 493 in december the highest level since june economists polled by the wall street journal expected a the pmi to come in at 497 the indexs pickup to above the 500 threshold breaks a string of six consecutive months signaling contraction still januarys gain in activity was only marginal as the reading stood just above the 500 nochange mark a steadying of the eurozone economy at the start of the years adds to evidence that the region might escape recession sp global chief business economist chris williamson said business confidence jumped in january amid better economic prospects for 2023 and while orders continued to decline they did so at a softer pace compared with yearend data from the survey showed cost inflation continued to abate but average selling prices for both goods and services accelerated sp global said