Eurozone PMI hits 16-month low

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The Flash Eurozone PMI composite Output Index has dropped to 51.4 in November from 52.1 in October, hitting a 16-month low, the Markit Flash Eurozone PMI has revealed.

According to the report, manufacturing output growth picked up slightly to the highest for four months, but the rate of expansion remained modest.

Growth in the service sector eased for the fourth consecutive month tot he weakest since December.

New orders fell marginally, declining for the first time since July of last year.

Markit also highlighted that French private sector companies reported another drop in outstanding business in November, the seventh consecutive one.

In November, Flash France Composite Output Index rises to 48.4 (48.2 in October), 2-month high.

Germany private sector growth also fell to a 16-month low, as its factory sector stalls. Growth in the service sector slowed too, with the flash PMI dropping to 52.1 from 54.4.

 

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