German manufacturing contracts again: Is eurozone growth at risk? [Yahoo! Finance]
S&P Global Inc. (SPGI)
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Source: Yahoo! Finance
Flash Purchasing Managers' Index (PMI) data for December from S&P Global points to a deeper-than-expected contraction in German industry, while services growth slowed across the bloc. The latest flash Purchasing Managers' Index (PMI) surveys from S&P Global reveal a sharper-than-expected contraction in German manufacturing, dragging overall eurozone industry activity lower for the second consecutive month. Germany's manufacturing PMI fell to 47.7 in December, down from 48.2 in November and below the 48.5 consensus forecast. It marked the second consecutive decline and pushed the index further into contraction territory. Services remained in expansion at 52.6, but eased from 53.1 and undershot the 53.0 consensus. Manufacturing activity in the broader eurozone fell slowed to 49.2, down from 49.6, missing expectations of a neutral reading. “What a mess, one might exclaim in view of the further downturn in the manufacturing sector,” said Dr Cyrus de la Rubia, chief economist at H
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