Eurozone PMI Manufacturing was finalized at 58.4 in November, slightly up from October’s 58.3. Markit said stocks of purchases rose at strongest rate on record as firmed built safety buffers. Output price inflation hit fresh record while supplier performance deteriorated rapidly once again.
Looking as some member states, Italy PMI manufacturing rose to record high at 62.8. Others, except France at 55.9 (3-month high), dropped, but readings remained high, including the Netherlands at 60.7 (9-month low), Ireland at 59.9 (8-month low), Greece at 58.8 (2-month low), Austria at 58.1 (10-month low), Germany at 57.4 (10-month low), and Spain at 57.1 (8-month low).
Chris Williamson, Chief Business Economist at IHS Markit said:
“A strong headline PMI reading masks just how tough business conditions are for manufacturers at the moment. Although demand remains strong, as witnessed by a further solid improvement in new order inflows, supply chains continue to deteriorate at a worrying rate. Shortages of inputs have restricted production growth so far in the fourth quarter to the weakest seen over the past year and a half…
“… Looking ahead, rising COVID-19 infection rates cast a darkening cloud over the near-term outlook, threatening to further disrupt supply chains while at the same time diverting spending from consumer services to consumer goods again, therefore worsening the imbalance of supply and demand.”
