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    Home » Euro Area Private Sector Growth Re-Accelerates in November
    Indices News

    Euro Area Private Sector Growth Re-Accelerates in November

    December 3, 20211 Min Read
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    PRIVATE SECTOR red Rubber Stamp over a white background.
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    Eurozone private sector growth expands in November, signaling the resilience in the service sector as severe supply chain constraints hampered manufacturing activity.

    • The final composite output index increased to 55.4 in November from 54.2 in October.
    • The faster growth ended a three-month series of slowing growth in November. But the index was above the 50.0 mark, indicating expansion in the private sector.
    • The overall improvement signals the strong performance of services activity and marks the second-software expansion in manufacturing production.
    • The services Purchasing Managers’ Index stood at 55.9, down from 54.6 in October.
    • Chris Williamson, a chief business economist at IHS Markit, stated that an improvement in the pace of economic growth indicated by the Eurozone PMI looks temporary.

    Business sentiment deteriorated to a ten-month low in November, signaling a decline in confidence at service providers.

    Euro Stoxx 50 up +0.16%, EUR USD down -0.03%Source: IHS Markit

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