Markit's Eurozone Manufacturing Purchasing Managers Index (PMI) posted 53.7 points in November this year, up from October’s 53.5 points and unchanged from the earlier flash estimate.
The upturn in the euro zone manufacturing sector continued to gather pace in November. Operating conditions improved to the greatest degree since the start of 2014, underpinned by further growth in production volumes, rising staffing levels and stronger inflows of new work.
Manufacturing production rose for the forty-first month running in November, although the rate of expansion eased slightly. Underpinning the increase in output was the sharpest rise in new orders since February 2014, as demand from domestic and export markets improved.
“Euro zone manufacturers are enjoying the best improvement in business conditions for almost three years, as the benefits of a weaker currency and strengthening demand helped firms brush off political worries,” stated Chris Williamson, chief economist at IHS Markit.