The Eurozone manufacturing sector fell further into contraction in November, the latest manufacturing activity survey from S&P Global research showed on Wednesday.
The Eurozone Manufacturing purchasing managers index (PMI) arrived at 47.3 in November vs. 46.0 expectations and 46.4 last. The index hit a two-month top.
The bloc’s Services PMI stood at 48.6 in November vs. 48.0 expected and October’s 48.6.
The S&P Global Eurozone PMI Composite climbed to 47.8 in November vs. 47.0 estimated and 47.3 previous. The gauge registered fresh two-month highs.
“A further fall in business activity in November adds to the chances of the eurozone economy slipping into recession. So far, the data for the fourth quarter are consistent with GDP contracting at a quarterly rate of just over 0.2%.”
“However, the November PMI data also bring some tentative good news. In particular, the overall rate of decline has eased compared to October.”
EUR/USD pares back gains to challenge 1.0300 despite the upbeat euro area PMIs. The spot trading modestly flat on the day.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.