Eurozone manufacturing PMI rises slightly to 7-month high

By Tuba Ongun

The HCOB Eurozone Manufacturing purchasing managers index (PMI) rose slightly to a 7-month high of 44.4 in December, according to a report released on Tuesday.

The figure remained below the neutral 50.0 threshold that separates growth from contraction for an 18th month in a row, a report by the US-based financial services company S&P Global showed.

Challenges were their most acute for intermediate goods producers, as has generally been the case across the manufacturing industry’s current downturn, the report said.

Manufacturing output continued to fall in December due to a lack of new business as demand for eurozone goods decreased and factory job losses extending into a seventh successive month.