Eurozone PMI Manufacturing was finalized at 53.8 in November, down from October’s 54.8. Markit said there were slower, but still marked gains in output and new orders. Job losses continued but confidence improved further. Looking at some member states, Germany PMI Manufacturing stood high at 57.8. The Netherlands hit 22-month high at 54.4. However, Italy hit 5-monthlow at 51.5. Spain hit 5-month low at 49.8. France hit 6-month low at 49.6. Greece hit 6-month low at 42.3.
Chris Williamson, Chief Business Economist at IHS Markit said: “Eurozone manufacturing output continued to grow at a decent pace in November… The survey therefore adds to evidence that the region will avoid in the final quarter of the year a similar scale of downturn recorded in the second quarter… Encouragingly, a brighter outlook is indicated by the upturn in optimism for the year ahead, suggesting that the upturn should gather strength again in the coming months as lockdown measures ease and spending, especially investment, picks up in response to the recent news on vaccine development.”
