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11/23/2021, 10:01 AM (Source: TeleTrader)
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Eurozone business activity accelerates in November

The Eurozone PMI Composite Output Index, which takes both, the services and the manufacturing business activity into account, stood at 55.8 in November, representing an increase of 1.6 index points compared to the previous month, according to a preliminary report published by IHS Markit on Tuesday.

In November, the Flash Eurozone Manufacturing PMI came in at 58.6, up 0.3 index points from October, while the Flash Eurozone Services PMI Activity Index reached 56.6 after rising by 2 index points from the previous month.

"A stronger expansion of business activity in November defied economists' expectations of a slowdown, but is unlikely to prevent the eurozone from suffering slower growth in the fourth quarter, especially as rising virus cases look set to cause renewed disruptions to the economy in December," IHS Markit Chief Business Economist Chris Williamson commented in the report.

Baha Breaking News (BBN) / MS