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Eurozone: PMI index beyond expectations at 52,1, manufacturing at its highest since 2011

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The Eurozone composite PMI exceeds expectations in December, rising to 52,1 points – Services activity slowed slightly, manufacturing activity at its highest since May 2011.

Eurozone: PMI index beyond expectations at 52,1, manufacturing at its highest since 2011

The pace of economic recovery in the Eurozone is accelerating. The PMI composite index for the month of December, in fact, scored an increase from 51,7 in November to 52,1, a figure that positively surprised analysts, who were expecting more contained growth, at 51,9. LThe index thus remains firmly above the watershed level of 50 points.

Looking at the individual components, we note the marginal slowdown in services activity, from 51,2 to 51,0, against a consensus of 51,5. The slowdown was more than compensated for by the acceleration in manufacturing sector activity recorded by the index, which went from 51,6 to 52,7, the highest since May 2011.

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