Eurozone manufacturing PMI slightly up in December

By Gokhan Ergocun

ISTANBUL (AA) - The euro area's purchasing managers' index (PMI) for manufacturing posted a slight increase in December thanks to easing inflation and better supply-chain conditions, a US-based financial services provider revealed on Monday.

According to S&P Global, the PMI was at 47.8 in December, up from 47.1 in November.

With the December figure, the manufacturing PMI has been below the 50 level for the sixth consecutive month in the euro area.

"All of the monitored eurozone constituents registered a manufacturing PMI below the crucial 50.0 mark in December, signaling broad-based weakness," it added.

Meanwhile, eurozone manufacturing output dropped in the last month, posting a seventh successive month of contraction.