Eurozone recovery gathers pace in Jan

The recovery among eurozone private sector firms gathered pace in January, a survey has indicated, with growth at its fastest pace since June 2011. The latest Markit Purchasing Managers' Index (PMI) for the eurozone economy rose to 53.2 from 52.1 in December. A figure above 50 indicates expansion. Growth accelerated in Germany while the rate of decline slowed in France. Separate figures from the Bank of Spain showed the country's economy grew by 0.3 per cent in the last three months of 2013. It was the second quarter of growth in a row for Spain, although the economy shrank by 1.2 per cent over the year as a whole, according to a news agency.