Manufacturing growth in the euro zone slowed marginally last month but more mildly than original estimates suggested. Increases in prices charged by firms were firm, according to final survey data from NTC/RBS.
The figures, based on final results from an NTC Economics poll of 3,000 private sector companies in the euro zone, are likely to have no impact on expectations for steady interest rates this year from the European Central Bank.
The data showed minor revisions from the flash estimate published on December 17, with the Purchasing Managers' Index raised slightly to 52.6 from 52.5, down from November's 52.8. The consensus forecast for December was 52.5.
Employment growth, production and input prices growth came in slightly higher and the prices charged index off slightly from the flash estimate.
The report showed uneven growth rates across the big four countries, with France's expansion picking up from November and overtaking Germany as the fastest growing manufacturing economy among the four, ahead of Italy and Spain.
Increases in input costs and prices at the factory gate in France far outstripped the other three economies, NTC said.
Analysts said the PMI data were consistent with annual growth in official industrial production of under 2% and suggested the first quarterly contraction in euro zone industrial output since the first three months of 2005.
The output component of the euro zone PMI was revised up to 53.5 in December from the flash estimate of 53.4, but down from 54.1 in November. That is well above the 50 dividing line between growth and contraction.
Output growth was led by strong rises in production of investment goods such as plant and machinery.
