Eurozone Manufacturing Sector Continues To Contract
December 01 2019 - 11:20PM
RTTF2
The euro area manufacturing sector continued to contract in
November but the pace of declined slowed from October, final data
from IHS Markit showed Monday.
The factory Purchasing Managers' Index improved to 46.9 in
November from 45.9 in October and above the flash 46.6.
Nonetheless, the score remained well below the crucial 50.0
no-change mark and extended the current period of contraction to
ten months.
The survey data for the fourth quarter so far are indicating a
quarterly rate of contraction in excess of 1 percent for
manufacturing, Chris Williamson, chief business economist at IHS
Markit said.
Among big-four economies, France posted manufacturing expansion
on a month-on-month basis in November. The PMI climbed to 51.7 from
50.7 in October. The flash score was 51.6.
Germany remained bottom of the table, despite recording its best
PMI reading in five months. The manufacturing sector remained
firmly in contraction territory in November. Nonetheless, the
latest declines in output, new orders and employment were slower
than in recent months.
The headline IHS Markit/BME Germany PMI rose to a five-month
high of 44.1 in November from 42.1 in October. This was above the
preliminary estimate of 43.8.
Spain was another worst performer and Italy registered its
lowest PMI print for eight months. Spain's PMI advanced to 47.5
from 46.8 in October.
Italy's factory PMI declined to 47.6 in November. The reading
signaled the fourteenth consecutive deterioration in the
sector.
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