TELETRADER News
12/4, 10:01 AM (Source: TeleTrader)
more TeleTrader news

Eurozone's services PMI up to 51.9 in November

The Eurozone PMI Composite Output Index stood at 50.6 in November, up from 50.3 recorded in October, the IHS Markit said in its report on Wednesday. Meanwhile, the service sector activity grew month-on-month as services PMI in the euro area reached 51.9 in November.

The services sector drove the overall growth while the manufacturing sector declined for the tenth consecutive month. France was the best performer among the countries within the Eurozone in November, followed by Spain and Ireland.

"The final eurozone PMI for November came in slightly ahead of the earlier flash estimate but still indicates a near-stagnant economy. Worryingly, the service sector is also on course for its weakest quarterly expansion for five years," Chief Business Economist at IHS Markit Chris Williamson commented on results.

Breaking the News / GA