"European Markets Show Mixed Signals Amid Recession Concerns and PMI Data"

The euro zone's manufacturing sector continued to contract in December, marking the 18th consecutive month of decline, as indicated by the HCOB's final euro zone manufacturing Purchasing Managers' Index (PMI). With a PMI score of 44.4, the index remained below the growth threshold, suggesting the euro zone likely entered a recession last year after a 0.1% GDP contraction in the third quarter. Despite a slight improvement in new orders, the overall trend points to a persistent economic downturn, with job cuts in the sector for the seventh month in a row.