Euro zone manufacturing remains almost stagnant in December

Friday, 02 January 2015 17:52:20 (GMT+3)   |   Istanbul
       

Markit's Eurozone Manufacturing Purchasing Managers Index (PMI) was at 50.6 points in December, up from November's 50.1 points and down from the earlier flash estimate of 50.8 points.
                      
December saw the slowest output growth during the current one-and-a-half year period of sustained expansion. However, there was a mild improvement in new order inflows, which rose slightly for the first time in four months. Although domestic market conditions remained lackluster, the trend in new export business provided a positive contribution to total order books. The growth rate of new export orders rose to a three-month high.
 
"Eurozone factory activity more or less stagnated again in December, rounding off a year which saw an initial, promising-looking upturn fade away and stall in the second half of the year. The weakness of factory output, combined with the subdued service sector growth signaled by the flash PMI, suggests the euro zone economy grew by just 0.1 percent in the fourth quarter," Chris Williamson, chief economist at Markit, said.

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