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12/1/2022, 10:01 AM (Source: TeleTrader)
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Eurozone manufacturing activity up slightly in November

The euro area manufacturing sector recorded an increase in activity in November compared to the previous month, according to the final report by S&P Global on Thursday. However, with the Purchasing Managers' Index (PMI) at 47.1, it remains in the contraction territory. The Eurozone Manufacturing Output Index stood at 46 in November, up from 43.8 in October.

"November survey data pointed to a solid reduction in output volumes. The level of incoming new orders also fell sharply once again as client demand in markets across the eurozone and other parts of the globe deteriorated. Input purchasing was subsequently reduced to the quickest extent since May 2020 and firms remained pessimistic in their outlook for the next 12 months," the report stated.

Baha Breaking News (BBN) / DJ