Key findings for December 2004:

  • Output
    The NTC Research Eurozone Composite Output Index rose from 51.7 in November to 52.5 in December. The latest reading indicated an expansion of activity for the seventeenth month running, with the rate of expansion rising for the first time in five months. However, the rate of growth remained muted, and only moderately stronger than the fifteen-month low seen in November.

  • New Business
    The index rose from 50.3 in November to 51.4 in December, registering an improvement in the rate of increase from the sixteen-month low recorded in the previous month. Nevertheless, the latest rise in new business was the second weakest seen since the recent upturn began back in August of last year.

  • Input Prices
    The index recorded a further steep rise in average input prices in December. Although the rate of increase eased for the second month running, the index nevertheless remained well above its long-run average of 56.6 to suggest persistent strong upward cost pressures.

  • Employment
    The Composite Employment Index registered 49.7 in December, up marginally from 49.5 in November, to signal a further decline in overall staffing levels.

    The Indexes provide the earliest indication of business conditions in the Eurozone. The data are currently based on the results of surveys carried out in Germany, France, Spain, Italy, Austria, Ireland, Greece and the Netherlands (plus the UK, Poland and the Czech Republic for the EU data), covering over 6,000 manufacturing and services companies.

    These countries together account for an estimated 92% of total Eurozone gross domestic product. Questions are asked about real events and are not opinion based.

    An index reading above 50.0 indicates an increase in the variable since the previous month and below 50.0 a decrease.

    For futher information on the Eurozone Indices click here.

    Data sourced from NTC Research; additional content by WARC staff