The Eurozone manufacturing PMI did not improve in December, and the economy may enter a recession last year

Sina Financial News PMI data showed that the eurozone manufacturing industry ended 2023 in a disadvantageous position, and manufacturing activity contracted for the 18th consecutive month in December, showing no signs of a strong rebound in the eurozone economy. The final value of the manufacturing PMI rose to 44.4 in December from 44.2 in November, but it was still below the 50 threshold between prosperity and decline. The index measuring output fell to 44.4 from 44.6 in November. Cyrus de la Rubia, chief analyst at Commerzbank Hamburg, said, “PMIs barely improved compared to November amid the continued sluggish manufacturing sector in the eurozone.” This paints a bleak picture for the eurozone, which entered a recession in the third quarter of last year. ”