December 2018 Eurozone Markit manufacturing PMI final 2 January 2019
- Manufacturing PMI 51.4 vs 51.4 exp. Flash 51.4. Nov 51.8
- Fall in new work signalled for third month running
- Confidence about the future hits fresh six-year low during December
Input cost inflation was down notably, easing back to its lowest level for 17 months. There were reports of reduced prices for oil-based products, although rising costs for metals (especially steel) and ongoing supply-side shortages ensured that overall inflation remained strong. Manufacturers continued to pass on their higher costs wherever possible. However, in line with the trend for input prices, the rate of output charge inflation continued to soften and was the weakest recorded by the survey since July 2017.
Not a great month for the sector to close the year out with and there will need to be a decent bounce in the early part of 2019 or the ECB will have a tough task on their hands this year in trying to tighten policy.
The rest of the PMI’s today;
- China 49.7 vs 50.1 exp. Prior 50.2
- Australia 51.3 vs 58.3 prior
- Ireland 54.5 vs 55.4 prior
- Netherlands 57.2 vs 56.1 prior
- India 53.2 vs 54.0 prior
- Spain 51.1 vs 52.4 exp. Prior 52.6
- Italy 49.2 vs 48.6 exp. Prior 48.6
- France 49.7 vs 49.7 exp. Prior 49.7
- Germany 51.5 vs 51.5 exp. Prior 51.5
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