Euro zone manufacturing PMI up slightly in November

Thursday, 02 December 2021 10:15:24 (GMT+3)   |   Istanbul

Markit’s Eurozone Manufacturing Purchasing Managers Index (PMI) posted 58.4 points in November, up slightly from October’s 58.3 points and down slightly from the earlier flash estimate of 58.6 points.

Intermediate and investment goods producers’ operating conditions showed further growth slowdowns, while consumer goods producers’ operating conditions recorded an accelerated expansion.

Euro zone manufacturing production rose in November. The rate of increase picked up from October, but was the second weakest in the current 17 months of growth.

The new order growth rate quickened in November, but was still subdued compared to earlier in 2021.

“Although demand remains strong, as witnessed by a further solid improvement in new order inflows, supply chains continue to deteriorate at a worrying rate. Shortages of inputs have restricted production growth so far in the fourth quarter to the weakest seen over the past year and a half,” Chris Williamson, chief business economist at IHS Markit, commented.

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