Eurozone manufacturing activity slows in December
The growth in Eurozone’s manufacturing sector slowed in December, according to a report released by IHS Markit on Monday. The Eurozone Manufacturing Purchasing Managers Index (PMI) stood at 58, marking a decline from 58.4 recorded in November and hitting a ten-month low.
Output growth remained unchanged from November as it remained at the second-lowest level since July 2020. The survey also showed easing rates of inflation across the euro area manufacturing sector.
“It has been an incredibly challenging period for eurozone manufacturers this second half of 2021, but the latest survey data hasn’t spoiled the festive cheer too much – we’re seeing some tentative, but very welcome signs that the supply chain crisis which has plagued production lines all across Europe is beginning to recede,” Joe Hayes, senior economist at IHS Markit, said.
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