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Eurozone manufacturing PMI up to 55.2 in December

Manufacturing activity in the euro area accelerated in December, with the Purchasing Managers Index (PMI) rising to 55.2, IHS Markit said on Monday.

The report showed there were stronger rises regarding the output and new orders while supply-side shortages led to delivery delays and increasing prices. Investment goods producers had the strongest growth, followed by intermediate goods.

"Eurozone manufacturing ended 2020 on an encouragingly strong note, with production growth accelerating to one of the fastest seen over the past three years. The solid performance of manufacturing amid the tightening of COVID-19 restrictions in the closing months of 2020 represents a major contrast to the lockdowns earlier in the year, with factories acting as crucial support to the economy as the service sector is hit by tough social distancing measures," Chief Business Economist Chris Williamson said.

Breaking the News / TF