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Euro zone factory activity declines as PMI points to continued recession

share-iconThursday, January 02 comment-icon2 weeks ago 6 views
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reutersREUTERS
Euro zone factory activity declines as PMI points to continued recession

Credited from: REUTERS

  • Euro zone manufacturers faced further declines in factory activity, concluding the year on a negative note.
  • The final euro zone manufacturing Purchasing Managers' Index (PMI) dipped to 45.1 in December, remaining below the growth threshold of 50.
  • Challenges were widespread, with Germany, France, and Italy in industrial recession, while Spain's manufacturing sector showed robust expansion.
  • New orders plunged to a three-month low, signaling no signs of immediate recovery.
  • The European Central Bank is expected to cut interest rates, potentially providing some support amid current economic woes.

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