Eurozone PMI Manufacturing rose to 55.5 in December, up from 53.8, above expectation of 53.0, a 55-month high. PMI Services rose to 47.3, up from 41.7, well above expectation of 40.9. PMI Composite also rose to 49.8, up from 45.3.
Chris Williamson, Chief Business Economist at IHS Markit said: “The data hint at the economy close to stabilising after having plunged back into a severe decline in November amid renewed COVID- 19 lockdown measures. The fourth quarter downturn consequently looks far less steep than the hit from the pandemic seen earlier in the year, though the picture is very mixed by sector. Companies have also become increasingly optimistic about the year ahead, with vaccine rollouts expected to help restore businesses to more normal trading conditions as 2021 progresses.”
