While analysts were predicting incline to 49.6, Italian Manufacturing PMI decreased to 48.4. It is lowest reading for 19 months in December, and signalled a further deterioration in the health of the goods-producing sector. Following back-to-back readings of 49.0 in the previous two months, the headline PMI’s quarterly average was the lowest since Q2 2013 and well down on the 53.3 recorded over the second quarter of this year.
In the US session Manufacturing PMI data was released as well. The December PMI registered 55.5 percent, a decrease of 3.2 percentage points from November’s reading of 58.7 percent. Analysts were anticipating a smaller decrease to 57.6. The New Orders Index registered 57.3 percent, a decrease of 8.7 percentage points from the reading of 66 percent in November. The Production Index registered 58.8 percent, 5.6 percentage points below the November reading of 64.4 percent.
On Monday, Spanish Unemployment Change and German Prelim CPI figures are scheduled for a release from Eurozone. Analysts are predicting a decrease of 72,000 in number of unemployed in Spain, while Germ CPI. There will be no data releases in the US session.
Figures to watch:
German Prelim CPI (Monday)
Spanish Unemployment Change (Monday 9:00)
