Germany: Composite PMI falls below Eurozone average again in December
The HCOB Composite Purchasing Managers’ Index (PMI) fell to 46.7 in December from November’s 47.8. As a result, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in private sector operating conditions compared to the previous month.
The Manufacturing PMI came in at 43.1 in December, up from November’s 42.6. Lastly, the Services PMI fell to 48.4 in December (November: 49.6).
The composite PMI fell below the Eurozone average again in December for the fifth time in six months. Output, new orders and employment fell more quickly in both sectors than in November. Meanwhile, input and output inflation rose in both sectors. Finally, business sentiment across both sectors as a whole improved.