LONDON, Jan. 6 (Xinhua) -- The final eurozone composite purchasing managers' index (PMI) edged up to 51.4 in December 2014 from 51.1 in November 2014, said Markit Economics Limited Tuesday.
The final Markit eurozone PMI Composite Output Index was lower than the earlier flash estimate of 51.7, though it has registered the 18th successive month of expansion in December.
Weakness was "again evident" in the big-three economies of Germany, France and Italy, said the London-based market surveyor.
But eurozone employment rose for the second month in a row during December, with the number of workforce increased in Germany, Spain and Ireland, offsetting further reductions in France and Italy, it noted.
The average reading over the final quarter of 2014 was 51.5, recording its lowest level since the third quarter of 2013, figures showed.
The eurozone services business activity index posted 51.6 in December 2014, up from 51.1 in November, but below the flash estimate of 51.9, data also showed.
"The eurozone will look upon 2014 as a year in which recession was avoided by the narrowest of margins, but the weakness of the survey data suggests there's no guarantee that a renewed downturn will not be seen in 2015," said Chris Williamson, Chief Economist at Markit.
He reckons that the weakness of the PMI in December would add to calls for more aggressive central bank stimulus, including full-scale quantitative easing, to be undertaken as soon as possible.
But "with lower oil prices set to reduce businesses' costs and boost consumer spending, the outlook has brightened, and policymakers may choose to wait and see if the rate of growth continues to pick up before making firm decisions on whether such controversial steps need to be taken," added Williamson.
