Eurozone December Services PMI 53.1... Below Expectations
[Asia Economy Reporter Kwon Jae-hee] The December Purchasing Managers' Index (PMI) for services in the 19 Eurozone countries using the euro within the European Union (EU) fell short of expectations.
According to Bloomberg on the 5th (local time), the Eurozone's December services PMI was recorded at 53.1. This slightly missed the forecast of 53.5 and was also lower than the previous month's 55.9.
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The PMI is compiled monthly through surveys of purchasing managers in companies regarding new orders, production, inventory, employment, and more. It is an indicator that reflects business trends in sectors such as manufacturing and services. A PMI below 50 indicates contraction in business activity, while a PMI above 50 indicates expansion.
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