Germany leads fresh decline in Eurozone manufacturing woes

Ben Southwood
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EUROZONE manufacturing woes went on in December, as German factory activity declined further.

The purchasing managers’ index (PMI) for manufacturing in the Eurozone edged down to 46.1 in December, from 46.2 a month earlier, Markit said yesterday.

The German PMI was 46.0, down from 46.8 in November, as the formerly resilient economy found itself unable to shrug off the effects of the debt crisis on demand.

PMIs in France and Italy were also sub-50.

Spain suffered its 20th successive monthly fall in output with a PMI of 44.6, down from 45.3 in November. Worst-off was Greece, with a PMI at 41.4, indicating rapid contraction.