Eurozone: PMI registers 3-month high, but remains in contraction

Bottom line: In December, PMI figures were at least as good as the flash estimates indicated, were also improved on the previous month, but the overall index remains below the no change level and continues suggesting contraction in the course of Q4. Activity and new business in Eurozone’s private sector were less negative, as all indices edged higher. By country, the index for the service sector bounced back significantly in France and Germany, reaching expansion ground, while it deteriorated in Italy. The manufacturing index for Germany rose, but remained in contraction throughout Q4.

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