Economic Buzz: Eurozone Factory PMI Stays In Expansion In November

Economic Buzz: Eurozone Factory PMI Stays In Expansion In November

Dec 01, 2020 04:12 IST capital market

Eurozone final factory Purchasing Managers Index fell to 53.8 in November from 54.8 in October, data from IHS Markit showed Tuesday. Manufacturing sector expanded for the fifth successive month in November despite new lockdown measures. Nonetheless, the score was above the flash estimate of 53.6 and any reading above 50 indicates expansion. The survey revealed that production growth moderated from Octobers two-and-a-half year peak. A similar trend was seen for new orders, where growth eased to the weakest in the current five-month sequence. Increased production and order requirements meant that firms continued to increase their purchasing activity.On the price front, input cost inflation accelerated to the sharpest in nearly two years. Efforts to protect margins led to a second successive monthly rise in output prices. Business confidence improved to its highest for over two-and-a-half years in November. Among member countries, Germany remained the best-performing nation in November.

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