Eurozone Factory PMI Signals Robust Growth In November
01 Dezember 2020 - 05:52AM
RTTF2
The euro area manufacturing sector expanded for the fifth
successive month in November despite new lockdown measures, final
data from IHS Markit showed Tuesday.
The final factory Purchasing Managers' Index fell to 53.8 in
November from 54.8 in October. Nonetheless, the score was above the
flash estimate of 53.6 and any reading above 50 indicates
expansion.
The survey 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, Chris Williamson, chief business economist at
IHS Markit said.
The survey revealed that production growth moderated from
October's 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. Solid growth was seen in Austria and Italy, in
contrast to marginal contractions recorded in both Spain and
France.
Germany's manufacturing sector continued to improve in November
although there was a slight loss of momentum in the pace of
expansion. The IHS Markit/BME factory PMI dropped to 57.8 from
two-and-a-half year high of 58.2. The flash reading was 57.9.
The French manufacturing sector contracted for the first time in
three months as the country faced new restrictions. The factory PMI
came in at 49.6, down from 51.3 in October and the flash score of
49.1.
Italy's manufacturing sector recovery lost momentum in November.
The factory PMI dropped to 51.5 from 53.8 in the previous month.
The score was also below economists' forecast of 52.0.
Spain's manufacturing activity returned to contraction in
November as the downturn in market demand weighed heavily on the
sector. The factory PMI fell to 49.8 in November from 52.5 in the
prior month.
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Feb 2024 bis Mär 2024
Euro vs Sterling (FX:EURGBP)
Forex Chart
Von Mär 2023 bis Mär 2024