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Markit: Eurozone manufacturing falls below estimates in Dec

by ChemOrbis Editorial Team -
  • 06/01/2015 (14:32)
According to data from Markit Economics, manufacturing in the eurozone fell by a greater than estimated amount in December. Markit’s Manufacturing Purchasing Managers Index (PMI) increased to 50.6 in December compared with a reading of 50.1 in November after preliminary estimates called for a reading of 50.8 for December. Any reading above 50 indicates expansion.

The report showed that in the fourth quarter of 2014 the region’s manufacturing activity stood at the lowest level seen for more than a year. Across the region, Germany’s manufacturing sector expanded slightly while French and Italian manufacturing remained weak. Italy’s manufacturing retreated to the lowest level in 19 months.

Analysts described the region’s manufacturing as “near-stagnant” and commented that the region’s subdued manufacturing may lead the European Central Bank (ECB) take new economic stimulus measures to boost the economy.

Meanwhile, according to Markit, the purchasing managers’ index for services was unexpectedly revised down to 51.6 in December from an initial reading of 51.9.
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