Eurozone’s private sector productivity continued to rise as the pace of growth remained at October’s recent low.
- The seasonally adjusted Eurozone Productivity PMI stood at 50.3 in November, indicating growth for the last eight consecutive months.
- Manufacturing was the major area causing a decline in the headline figure, recording repeated deteriorations in workforce efficiency.
- Service providers posted another improvement with an increase in the productivity of the Eurozone service economy for the seventh consecutive month.
- Italy was the best-performing economy in the euro area with higher private sector productivity. Manufacturers in Italy also reported an improvement in workforce efficiency.
- Growth in France’s productivity was largely based on the service sector that posted an improvement in workforce efficiency.
Among the three major Eurozone countries, only Germany posted a reduction in productivity. Both German manufacturers and providers reported efficiency losses in November.
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Source: IHS Markit.
