Chris Williamson, chief business economist at IHS Markit, said: "The eurozone economy has started 2017 on a strong note. The January flash PMI is signalling respectable quarterly GDP[gross domestic product] growth of 0.4% with a broad-based expansion across both manufacturing and services." Williamson did note, however, that a recent strengthening of demand had been starting to help restore some pricing power among suppliers, saying that this could hint at an upturn in core inflationary pressures.