Eurozone PMI Services was finalized at 46.4 in December, up from November’s 41.7. PMI Composite was finalized at 49.1, up from November’s 45.3. Looking at some member states, Ireland PMI Composite rose to 53.4, a 4-month high. Germany rose to 52.0, 2-month high. France rose to 49.5, 4-month high. Spain rose to 48.7, 5-month high. Italy rose to 43.0, 2-month high.
Chris Williamson, Chief Business Economist at IHS Markit said: “The eurozone economy contracted for a second successive month in December, deteriorating at a slightly faster rate than previously thought at the end of the year due to intensifying COVID-19 restrictions… Worse may be yet to come before things get better, especially as the latest survey data were collected before the news of the new – more contagious – strain of the virus…. The risk of a technical recession, with GDP also falling in the first quarter has therefore risen.
