- The preliminary PMI manufacturing index for the euro zone reached 55.5 points in December compared to the 53 expected.
- The services PMI rises to 47.3 points in December from the 41.9 forecast.
According to the preliminary IHS / Markit report, business activity in the euro zone came close to stabilizing in December, as higher growth in manufacturing output helped offset a further decline in service sector activity. In fact, the purchasing managers index Euro zone manufacturing PMI jumped to a 31-month high at 55.5 points during the reported month, down from 53.8 in November. Additionally, the Services PMI rose to a three-month high of 47.3 in December..
The optimistic data has provided an additional boost to the common currency and have pushed the EUR / USD pair above the 1.2200 level for the first time since April 2018.
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