Eurozone Private Sector Growth Fastest Since Early 2011

Eurozone private sector expanded the most since early 2011 driven by a near-record expansion of manufacturing and the steepest rise in service sector for over six-and-a-half years.

The composite output index rose to 58.1 in December from 57.5 in November, final data from IHS Markit showed Thursday. This was the highest score since February 2011.

The score was slightly above the flash 58.0. The headline index has signaled growth for 54 successive months.

The services Purchasing Managers’ Index improved to 56.6 from 56.2 in November. The flash reading was 56.5.

France saw its pace of output growth remain close to November’s high. Rates of output expansion improved in Germany, Italy and Spain.

France’s composite PMI fell to 59.6 from 60.3 in November. The flash score was 60.0.

Similarly, the France final services PMI slid to 59.1 from 60.4 a month ago. According to flash estimate, the score fell to 59.4 in December.

Business activity in Germany’s service sector rose at the fastest rate for two years in December, marking a strong finish to a highly positive year.

Germany’s composite PMI climbed to an 80-month high of 58.9 from 57.3 in the previous month. The flash reading was 58.7.

At the same time, the services PMI improved to 55.8, in line with estimate, from 54.3 in November.

The material has been provided by InstaForex Company – www.instaforex.com