Euro zone manufacturing remained subdued in December, according to data out on Friday, marking an end to a year of widespread concerns about the health of the currency union’s economy.
The widely-followed Markit Manufacturing Purchasing Managers’ Index (PMI) came in at 50.6 this month, slightly below a flash estimate of 50.8, but above November’s 16-month low of 50.1. A figure over 50 marks expansion in the sector.
In a release accompanying the data, Markit said industry remained “near-stagnant”.
“Euro zone factory activity more or less stagnated again in December, rounding off a year which saw an initial, promising-looking upturn fade away and stall in the second half of the year,” Chris Williamson, chief economist at Markit, said in a note.
“The weakness of factory output, combined with the subdued service sector growth signalled by the flash PMI, suggests the eurozone economy grew by just 0.1 percent in the fourth quarter.”
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