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Eurozone manufacturing edges down in Nov

by ChemOrbis Editorial Team -
  • 01/12/2014 (15:06)
Eurozone manufacturing fell in November, according to data from Markit Economics. A final reading for a Purchasing Managers Index (PMI) declined to 50.1 in November from a reading of 50.6 in October. Any reading above 50 indicates expansion. An Initial estimate released on November 20 by Markit Economics called for a reading of 50.4.

The weaker sentiment in the region’s manufacturing sector was attributed to a slowdown in Germany, Europe’s largest economy.

Across the region, the final PMI for Germany’s manufacturing sector fell to a reading of 49.5 in November from an initial forecast of 50 while France’s and Italy’s manufacturing indexes were also down to readings of 48.4 and 49, respectively, both due to faltering new business. However, an index for Spain’s manufacturing industry rose to 54.7 in November, up from an initial forecast of 52.6 and UK manufacturing posted the fastest pace in four months owing to higher domestic demand. The PMI for the UK unexpectedly climbed to a reading of 53.5 from a reading of 53.3 reported in October.
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