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Eurozone composite PMI slightly falls in December: Markit

by ChemOrbis Editorial Team -
  • 16/12/2015 (16:21)
According to a composite purchasing managers’ index (PMI) compiled by Markit Economics, a combined measure of manufacturing and service output in the eurozone fell slightly to a reading of 54.0 in December from November’s reading of 54.2. The eurozone economy slowed following the Paris attacks on November 13, though the economic effects of the attacks seem to be limited to France’s services sector as activity among manufacturers in eurozone picked up. Any reading above 50 indicates an expansion while any figure below 50 represents a contraction.

For the region’s main economies, Germany’s composite PMI declined to a reading of 54.9 in December from a reading of 55.2 in the previous month, falling below the economists’ predictions of a reading of 55. According to Markit, France’s composite PMI also fell to four-month low of 50.3 in December from a reading of 51.0 in November.

Meanwhile, according to data released by the statistical office of the European Union (Eurostat), the annual rate of inflation of eurozone rose 0.2% in November from the flash reading of 0.1%. Though it is the highest level seen since August, the estimate for the eurozone’s November inflation still remains below the European Central Bank’s target of 2%.
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