Eurozone: Flash PMI rises, but remains in contraction

Summary

Bottom line: Flash PMI results for December showed a rise on the previous month, but the index is still below the no change level, suggesting contraction for Q4, which is indicated as the worst quarter in 2.5 years. Activity and new business in Eurozone’s private sector were less negative, as all indices edged higher. The index for the service sector rose significantly in France and Germany, reaching expansion ground, while it kept weakening in the rest of the countries surveyed. A worrying sign is that the manufacturing index in Germany remained in contraction throughout Q4.

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