Eurozone private sector activity expanded strongly in December, but the pace of expansion slowed from November, flash data from Markit showed Wednesday.

The flash composite output index fell to 54 in December from 54.2 in November. Nonetheless, a reading above 50 indicates expansion in the sector. It was forecast to remain unchanged at 54.2.

The expansion seen in December was sufficient to complete the strongest quarter of growth recorded by the survey for four-and-a-half years.

The manufacturing Purchasing Managers’ Index hit a 20-month high in December. The indicator came in at 53.1, up from 52.8 in November.

Meanwhile, the services PMI fell to a 3-month low of 53.9 from 54.2 a month ago. The expected score was 54.

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