Eurozone Manufacturing Sector Continues To Shrink

RTTNews | Před 4 dny

(RTTNews) - The euro area manufacturing sector continued to shrink in December on accelerated contractions in both orders and output, final data compiled by S&P Global showed on Thursday.

The HCOB manufacturing Purchasing Managers' Index fell slightly to a three-month low of 45.1 in December from 45.2 in November. The flash reading was 45.2.

Demand for euro area goods declined once again and the rate of contraction quickened in December. A softer fall in new export orders signaled that the faster drop in December new business was domestically driven.

December's decrease in output was the steepest since October 2023. The concurrent fall in new orders outpaced that seen in production and firms were able to uphold output volumes somewhat. Employment remained in contraction in November, extending the current period of job losses to just over a year-and-a-half.

Purchasing activity posted another steep monthly fall in 2024. Manufacturers' pre-production inventories and volume of finished goods held in warehouses decreased in December.

Further, input prices remained unchanged in December. This was the first time since August 2024 that input costs had not decreased. Firms reduced their charges for the fourth consecutive month.

There was increased optimism among manufacturers with growth expectations hitting four month high. Nonetheless, business confidence remained subdued.

The survey showed considerable divergences among nations covered by the survey. The big-three nations namely Germany, France and Italy posted deterioration once again, while Spain showed strong improvement in the manufacturing sector.

The German manufacturers reported another sharp and accelerated decline in activity in December. The final HCOB manufacturing PMI hit a three-month low of 42.5, in line with flash estimate and down from 43.0 in November.

France's final manufacturing PMI declined even further below the 50.0 mark in December. The indicator slid to 41.9, in line with flash estimate, from 43.1 a month ago. The score indicated the sharpest contraction since May 2020.

Italian manufacturers reported sharp contraction in operating conditions due to reductions in output and new orders. Nonetheless, the manufacturing PMI advanced to 46.2 in December from 44.5 in November.

On the other hand, Spain's manufacturing economy ended 2024 in positive fashion, with output and new orders both expanding at faster rates. The PMI improved to 53.3, up from November's 53.1 and closer to October's 32-month high.

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