Eurozone PMI Services was finalized at 49.8, in December, up from November’s 48.5. PMI Composite was finalized at 49.3, up from prior month’s 47.8. Looking at PMI Composite readings of some member states, Spain (49.9), Italy (49.6), France (49.1) and Germany (49.0) were all in contraction.
Joe Hayes, Senior Economist at S&P Global Market Intelligence said:
“The eurozone economy continued to deteriorate in December, but the strength of the downturn moderated for a second successive month, tentatively pointing to a contraction in the economy that may be milder than was initially anticipated….
“Cooling price pressures have helped temper the decline in economic activity levels….
“Nevertheless, there is little evidence across the survey results to suggest the eurozone economy may return to meaningful and stable growth any time soon.”
