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Euro Zone Dec. Manufacturing PMI Declines To 52.6
Wednesday, January 2, 2008
Euro zone Purchasing Managers` Index for manufacturing sector fell to 52.6 in December from 52.8 in November, the latest report from the Royal Bank of Scotland and NTC Economics showed Wednesday. The reading came in slightly higher than the flash estimate of 52.5.
A PMI reading above 50 reflects expansion in the manufacturing sector, while a level below 50 indicates contraction.
Commenting on the Euro zone Manufacturing PMI survey data, RBS Chief Euro Area Economist, Jacques Cailloux said, “The final PMI data for December are consistent with a slowdown in official industrial production growth in the euro area to under 2% year-on-year, and should result in the first quarterly contraction in IP in Q4 since Q1 2005
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