Purchasing Managers’ Index
MARKET SENSITIVE INFORMATION
EMBARGOED UNTIL: 09:00 (UK Time), 2 January 2012
Markit Eurozone Manufacturing PMI
– final data
Manufacturing growth in Q4 2011 weakest since mid-2009
Data collected 5–15 December.
Final Manufacturing PMI at 46.9 in December
Levels of production and new orders fall acrossall nations for second month running
Subdued price and supply-chain pressures
(overall business conditions)
, 50 = no change in business conditions on monthSource: Markit
The downturn in the Eurozone manufacturingsector extended into a fifth successive month inDecember, as companies faced declining orderinflows, a slowing global economy and ongoingfinancial market turbulence.At 46.9 in December, unchanged from the earlierflash estimate, the
Markit EurozoneManufacturing PMI
was up marginally fromNovember’s 28-month low of 46.4 to signal a slighteasing in the overall rate of contraction. Theaverage PMI reading in Q4 2011 was neverthelessthe weakest since the second quarter of 2009.
Countries ranked by Manufacturing PMI
France48.94-month highGermany48.42-month highNetherlands46.22-month highItaly44.33-month highSpain43.7 3-month low Greece42.03-month high
Production declined for the fifth successive month.The fall was less sharp than the 29-month recordseen in November, though it remained steepcompared with previous downturns prior to thefinancial crisis. Output and new business fell acrossthe consumer, investment and intermediate goodssectors, with the latter reporting the strongestdeclines in both cases.
102030405060'98'99'00'01'02'03'04'05'06'07'08'09'10'11-10-8-6-4-202Eurozone Manufacturing PMI Output IndexManufacturing outputPMIEurostat manufacturing output, 3m/3m % change
Sources: Markit, Eurostat via Ecowin.
For the second consecutive month, all of thenations covered by the survey reported lower levelsof output. Rates of contraction for production easedacross all of the nations covered, although markeddisparities persisted. Germany, France, theNetherlands and Austria all saw only mild falls,while marked contractions were seen in Italy, Spainand Greece.The fall in production at euro area manufacturersreflected a seventh successive monthly decline innew orders received, which in turn reflected acombination of lower demand in domestic marketsand reduced international trade. The rates ofdecline in both total new orders and new exportorders were less marked than in November but
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