Eurozone manufacturing sector growth moderated in November, after a four-month slowdown from June’s record growth.
- Activity in the sector edged up slightly, with the IHS Markit Eurozone Manufacturing PMI rising from 58.3 in October to 58.4 in November.
- Eurozone factories continued to be hampered by severe supply-related challenges last month.
- Eurozone manufacturing production grew solidly during November but was at the second-weakest pace in a 17-month growth pattern.
- Firms continued to struggle from material shortages, poor transport availability, and staffing issues at vendors. Costs continued rising, leading factories to increase prices at the fastest pace.
- Chris Williamson, Chief Business Economist at IHS Markit, stated that a strong headline PMI reading signals the tough business conditions facing manufacturers at the moment.
Among the major Eurozone countries, Italy posted the fastest growth, while France slowed down.
Euro Stoxx 50 up +1.71%, EUR USD down -0.08%Source: IHS Markit