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EUROZONE DATA: Dec Flash PMI: Output Charge Inflation Accelerates Into Year-end

EUROZONE DATA
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The Eurozone flash December services PMI rebounded to 51.4 (vs 49.5 cons and prior), following higher-than-expected prints in France and Germany this morning. Manufacturing was broadly in line at 45.2 (vs 45.3 cons, 45.2 prior), despite weaker-than-expected data in the two largest economies. 

  • The release notes that "output was scaled back amid sustained reductions in new orders. Meanwhile, the pace of job cuts was the fastest in four years as companies responded to a drop in workloads by lowering their staffing levels".
  • However, as flagged in the German release, "rates of inflation of both input costs and output prices quickened at the end of the year, with charges rising at a pace that remained above the series average".

Key notes regarding the rest of the Eurozone (ex-France and Germany):

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The Eurozone flash December services PMI rebounded to 51.4 (vs 49.5 cons and prior), following higher-than-expected prints in France and Germany this morning. Manufacturing was broadly in line at 45.2 (vs 45.3 cons, 45.2 prior), despite weaker-than-expected data in the two largest economies. 

  • The release notes that "output was scaled back amid sustained reductions in new orders. Meanwhile, the pace of job cuts was the fastest in four years as companies responded to a drop in workloads by lowering their staffing levels".
  • However, as flagged in the German release, "rates of inflation of both input costs and output prices quickened at the end of the year, with charges rising at a pace that remained above the series average".

Key notes regarding the rest of the Eurozone (ex-France and Germany):

Keep reading...Show less