trending Market Intelligence /marketintelligence/en/news-insights/trending/r3RLL-t8o8bgwGpctlwecA2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

IHS: Eurozone Q4 output growth at 6-year low as manufacturing woes worsen

StreetTalk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk – Episode 69: Banks left with pockets full of cash and few places to go

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

IHS: Eurozone Q4 output growth at 6-year low as manufacturing woes worsen

The eurozone's overall business activity growth nearly stalled for the third consecutive month in December, concluding the fourth quarter with the weakest growth in six years, preliminary data from IHS Markit showed.

The flash eurozone composite purchasing managers' index came in at 50.6 in December, unchanged from November, but higher than the Econoday consensus estimate of 50.2. A reading below 50.0 indicates contraction.

Output growth in the fourth quarter was the weakest since the second half of 2013.

Manufacturing output dropped at the fastest rate since October 2012, as the relevant PMI fell to 45.9 from 47.4, marking the 11th straight monthly drop. Meanwhile, the eurozone services PMI improved to 52.4 from 51.9.

"While service sector growth remains encouragingly resilient in the face of the manufacturing downturn, any further softening of the labor market could cause weakness to spill over," Chris Williamson, chief business economist at IHS Markit, said. He added that the bloc has been stuck in "crawler gear" for four consecutive months, pointing to a quarterly GDP expansion rate of just 0.1%.

New orders rose for the first time since August, but employment growth was the slowest since November 2014.

Within the bloc, the flash German Composite Output Index remained unchanged at 49.4 in December. The Econoday consensus estimate was for the index to emerge out of contraction territory, with a 50.1 reading. Growth in the services sector was offset by a deeper downturn in the manufacturing sector, whose relevant PMI fell to 43.4 from a five-month high of 44.1 in November.

Germany's business sentiment rose to the highest level in six months since June and new orders fell at the slowest rate since July.

The preliminary French Composite Output Index reading ticked down to 52.0 in December, in line with market estimates, from 52.1 in November. Business expectations in France declined to a six-month low.

The latest PMI numbers largely reflect the need for another ECB easing package in March 2020, wrote Nordea Markets chief analyst Anders Svendsen and analyst Inge Klaver.

The ECB held its key rates at the first monetary policy meeting under new President Christine Lagarde, who plans to begin a strategic review of the central bank's monetary policy in January 2020.