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Eurozone manufacturing index moves higher in Dec

by ChemOrbis Editorial Team -
  • 16/12/2014 (18:05)
Eurozone manufacturing and service output increased in December, according to data from Markit Economics. A preliminary reading for a composite Purchasing Managers Index (PMI) rose to 51.7 in December when compared to a reading of 51.1 in November. Any reading above 50 indicates expansion. Initial forecasts called for a reading of 51.5 in a survey conducted by Bloomberg.

However, weaker results in both Germany and France kept business activity in the region subdued. A gauge of factory activity in the EU increased to a reading of 50.8 from 50.1 while a measure for services climbed to 51.9 compared with 51.1 reported in November.

Within the region, the PMI for France’s composite index rose to a reading of 49.1 in December from 47.9 in November. Meanwhile, an index for Germany’s manufacturing and services industry declined to 51.4 in December from 51.7 in November due to sluggish economic growth, with the new figure being the weakest reading seen since July 2013.
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