Persistent Challenges in Manufacturing
The Eurozone manufacturing sector concluded 2023 in contraction, marking continued output declines and job losses for the seventh month in a row. While certain sub-indices hint at a possible easing of the industry’s downturn, the overall scenario remains challenging.
The S&P Global’s HCOB Eurozone Manufacturing PMI nudged up to 44.4 in December from 44.2 in November, yet still indicates deteriorating conditions, remaining below the neutral 50.0 threshold.
Regional Variations and Demand Issues
The downturn was most pronounced among intermediate goods producers. Notably, France experienced a significant worsening of business conditions, while Germany and Italy showed softer deteriorations. Greece emerged as a lone bright…
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