The deepest contraction for manufacturing for 26 months. Weak demand, strong cost pressures cited.
Manufacturing PMI 48.8
- prior 49.0
- Output and new orders extended their contraction for a sixth month in December, although at slower paces than last month
- Input price inflation rate slowed for a third month to the lowest pace since September 2021
Services 51.7, helped by reawakening tourism
- prior 50.3
Composite 50.0
- prior 48.9
