Darkest Days Likely Over for Eurozone Factories, December PMIs Show

Darkest Days Likely Over for Eurozone Factories, December PMIs Show
A worker assembles a vehicle at the Knaus-Tabbert AG factory in Jandelsbrunn near Passau, Germany, on March 16, 2021. Andreas Gebert/Reuters
Reuters
Updated:

LONDON—The downturn in eurozone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers.

S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) bounced to 47.8 in December from November’s 47.1, matching a preliminary reading but still below the 50 mark separating growth from contraction.