A survey has shown that manufacturing activity across the euro zone expanded in December but at a slower pace than initially thought.
The zone's purchasing managers' index (PMI), published by research group Markit, rose to 51.6 points in December, from 51.2 points in November. It was the third month running in which the widely-watched index has been above the crucial 50 mark which indicates growth.
Output of investment goods and consumer goods rose fastest, while new orders increased for the fifth consecutive month. The rate of job losses eased slightly.
But it was the 19th month in a row in which people overall left the workforce instead of joining it.
'The final December readings confirm that euro zone manufacturing ended the year on a positive note, with the headline PMI at a 21-month high,' said Markit senior economist Rob Dobson.
