FOREX TradingCharts.com

Financial News: Eurozone Private Sector Shrinks For Second Month

Eurozone Private Sector Shrinks For Second Month

01/06/2021 - 04:46:00 (RTTNews)

(RTTNews) - The Eurozone private sector contracted for the second straight month in December as services activity continued to drag on economic output, final data from IHS Markit showed Wednesday.

The composite output index climbed to 49.1 in December from 45.3 a month ago. The final result was lower than the earlier flash score of 49.8 and a reading below 50 suggests contraction.

"While the data indicate a renewed decline in eurozone GDP in the fourth quarter, the downturn appears to have been far less severe than seen in the second quarter, thanks to sustained strong manufacturing growth, rising global trade and lockdowns having been less onerous than earlier in the year," Chris Williamson, chief business economist at IHS Markit said.

The manufacturing sector remained the principal bright spot of Eurozone economic performance, expanding for a sixth successive month. Meanwhile, services declined for the fourth consecutive period.

The services Purchasing Managers' Index came in at 47.0, up from 46.0 in November. The flash score was 47.7.

There were notable country level divergences at the end of the year. Growth in Germany was underpinned by strong export performance. All other economies, except Ireland registered a contraction, although rates of decline eased noticeably in both France and Spain.

Italy was comfortably the worst performing as service sector activity continued to contract noticeably. The composite output index posted 43.0 in December versus 42.7 in November. Although, the services PMI rose to 39.7 from 39.4 in November, the reading was well below 50.

Germany's private sector continued to show resilience in December as the strength in manufacturing offset the service sector weakness.

The composite output index advanced to 52.0 from a five-month low of 51.7 in November. But the reading was below the flash 52.5. The services PMI registered 47.0, up from November's six-month low of 46.0 but weaker than the flash score of 47.7.

The French private sector contracted at the softest pace during the current four-month sequence of decline. The composite output index rose to 49.5 from 40.6 in the previous month. The flash score was 49.6.

At the same time, the services PMI improved sharply to 49.1 from 38.8 a month ago but remained slightly below the flash 49.2.

There was a noticeable improvement in Spain private sector output in December. The composite output index rose to 48.7 from 41.7 a month ago. The services business activity index climbed to 48.0 from 39.5 in the previous month.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


U.S. Business Inventories Increase In Line With Estimates In November (01 hr(s), 47 min(s), 37 sec(s) ago)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story»

Bank Of Italy Sees 3.5% GDP Growth This Year (02 hr(s), 02 min(s), 37 sec(s) ago)
(RTTNews) - The Italian economy is set to expand this year and next, but will return to pre-pandem ...Full Story»

UK Economy To Log Negative Growth In Q1: NIESR (02 hr(s), 13 min(s), 37 sec(s) ago)
(RTTNews) - The UK economy is set to log negative growth in the first three months of this year, ...Full Story»

U.S. Consumer Sentiment Dips More Than Expected In January (02 hr(s), 20 min(s), 37 sec(s) ago)
(RTTNews) - Preliminary data released by the University of Michigan on Friday showed a modest dete ...Full Story»

U.S. Industrial Production Jumps Much More Than Expected In December (02 hr(s), 37 min(s), 37 sec(s) ago)
(RTTNews) - The Federal Reserve released a report on Friday showing U.S. industrial production jum ...Full Story»

New York Manufacturing Index Unexpectedly Indicates Slower Growth In January (02 hr(s), 59 min(s), 37 sec(s) ago)
(RTTNews) - Activity in the New York manufacturing sector unexpectedly grew at a slower pace in th ...Full Story»

U.S. Producer Prices Rise Slightly Less Than Expected In December (03 hr(s), 07 min(s), 37 sec(s) ago)
(RTTNews) - A report released by the Labor Department on Friday showed U.S. producer prices increa ...Full Story»

U.S. Retail Sales Continue To Slump Amid Spike In Coronavirus Cases (03 hr(s), 20 min(s), 37 sec(s) ago)
(RTTNews) - Retail sales in the U.S. continued to decline in the month of December, according to a ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

U.S. Business Inventories Increase In Line With Estimates In November

01/15/2021 - 10:45 AM (RTTNews)
(RTTNews) - Business inventories in the U.S. increased in line with economist estimates in the mon ...Full Story>>

Bank Of Italy Sees 3.5% GDP Growth This Year

01/15/2021 - 10:30 AM (RTTNews)
(RTTNews) - The Italian economy is set to expand this year and next, but will return to pre-pandem ...Full Story>>

UK Economy To Log Negative Growth In Q1: NIESR

01/15/2021 - 10:19 AM (RTTNews)
(RTTNews) - The UK economy is set to log negative growth in the first three months of this year, ...Full Story>>

U.S. Consumer Sentiment Dips More Than Expected In January

01/15/2021 - 10:12 AM (RTTNews)
(RTTNews) - Preliminary data released by the University of Michigan on Friday showed a modest dete ...Full Story>>

U.S. Industrial Production Jumps Much More Than Expected In December

01/15/2021 - 09:55 AM (RTTNews)
(RTTNews) - The Federal Reserve released a report on Friday showing U.S. industrial production jum ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.