EMU: PMI Manufacturing almost unchanged in December

FXstreet.com (Barcelona) - Eurozone PMI Manufacturing decreased to 46.1 points in December, from 46.2 points in November, according to data released today by Markit. Analysts expected the indicator to tick up to 46.3 points.

According to Chris Williamson, Chief Economist at Markit: “The eurozone manufacturing sector remained entrenched in a steep downturn at the end of the year. Although not as severe as in the autumn, the survey indicates that production continued to fall at a quarterly rate of approximately 1% in December, therefore acting as a severe drag on the wider economy. The region’s recession therefore looks likely to have deepened, possibly quite significantly, in the final quarter.”