The HCOB Flash Eurozone Manufacturing PMI fell to 49.2 in December 2025, the lowest in eight months, compared to 49.6 in November and forecasts of 49.9. The reading showed manufacturing conditions worsened, with the weaker performance primarily attributable to German industry, where the downturn intensified. In France, on the other hand, there are signs of a cautious recovery in industry, although a single monthly figure should not be overrated. In the Euro Area, manufacturing production decreased marginally, ending a nine-month sequence of growth. New business from abroad also decreased and staffing levels continued to fall. On the price front, input costs rose the most since August 2024 while selling prices were broadly unchanged. On the other hand, business sentiment improved.