The four largest Euro Area member economies released results indicating manufacturing expansion in December. All values printed above the 50 mark with Spain moderately decelerating to 53.0 in December from 53.1 in November. France also experienced a slight decline to 51.4 from November’s 51.6. These small declines were offset by gains for both Germany and Italy, resulting in 53.2 and 55.6 expansion respectively, surpassing the prior month’s values of 53.0 and 54.9. The aggregate Euro Area manufacturing PMI also improved, rising to 53.2 in December compared to the 53.1 reported in November as the ECB’s accommodation takes root in the economy. All values obtained signaled a solid year end of the sector for the year of 2015. While the Euro did not display any major momentum during the announcements, the common currency slumped near the close of European equities.
European Manufacturing Rebound
Daily Analysis - 05/01/2016