06.01.2025 16:22
According to data published by S&P Global and Hamburg Commercial Bank, economic activity in the Eurozone declined in December 2024 due to a decrease in new business and employment. During this period of increasing inflationary pressures, the composite PMI rose to a level of 49.6.
Economic activity in the Eurozone slowed down in December 2024. S&P Global and Hamburg Commercial Bank (HCOB) published the composite and services Purchasing Managers' Index (PMI) data for the Eurozone for December 2024.
According to the data, economic activity in the Eurozone declined in December due to a decrease in new orders and employment. During this period, inflationary pressures also increased. Thus, the Eurozone economy finished 2024 in a fragile state.
The composite PMI for the Eurozone, which was at 48.3 in November, reached 49.6 in December. Therefore, the composite
PMI in the Eurozone saw its highest level in the last 2 months. A PMI value above 50 indicates growth, while below 50 indicates contraction.
Additionally, the services sector PMI in the Eurozone, which was 49.5 in November, rose to 51.6 in December.