(IHS Markit) The Eurozone Composite Output Index fell to a nine-month low of 53.4 in December, suggesting slowed activity in the economy.
Renewed Covid-19 infections saw the service sector slow down, with the index at an eight-month low of 53.3 in December from 55.9 the previous month.
The Manufacturing Output Index was at a three-month high of 53.9, increasing from 53.8 in November. Manufacturing PMI was, however, at a ten-month low of 58.0, after falling from 58.4 in November.
Inflation cooled from record highs in November, although the costs remained substantially high in December.
Germany’s growth stalled, with the new orders dropping for the first time since June last year. France posted a solid pace of growth, although the pace was slower from November.
Expansion in job creation continued but slowed to a three-month low in December, with employment gains strongest in Germany and France.
Businesses remain optimistic of future output, expecting supply bottlenecks to continue to fall, although the fresh impacts of Covid-19 send optimism to the second-lowest this year.
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