Eurozone December final manufacturing PMI 44.4 vs 44.2 prelim ...Middle East

Prior 44.2The reading is a 7-month high, helped by a modest improvement in German manufacturing conditions. That being said, this still marks a significant contraction in the euro area industry with the outlook for this year also still up in the air. The worry here is that the downturn might eventually lead to a dent in the labour market, so we'll have to see if lower prices will be able to help much in the early stages of the year. HCOB notes that:“Amid a relentless slump in the manufacturing sector of the Eurozone, the HCOB PMI has shown little improvement compared to November. This indicates a sustained decline in both activity and demand for manufactured goods. The sluggishness of new or

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