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Eurozone manufacturing index lowest in 16 months in Nov

by ChemOrbis Editorial Team -
  • 20/11/2014 (17:27)
Eurozone manufacturing and services fell to the lowest reading in 16 months in November, according to data from Markit Economics. A preliminary reading for a Purchasing Managers Index (PMI) declined to 51.4 in November from a reading of 52.1 in October. Any reading above 50 indicates expansion. Initial forecasts called for an increase to 52.3 in a survey conducted by Bloomberg.

The weaker results were attributed to weak demand across the region and a decline in new orders. A gauge of manufacturing in the region declined to 50.4 in November from a reading of 50.6 in October while the service industry index was down to a reading of 51.3 from a reading of 52.3 reported in October.

Across the region, the PMI for Germany’s manufacturing fell to a reading of 50 in November from 51.4 in October due to ongoing sluggish demand while an index for the service sector was down to 52.1 from a reading of 54.4 in the previous month. However, an index for France’s manufacturing and services industry rose to 48.4 in November, up from October’s eight-month low of 48.2 while the country’s manufacturing index fell to a three month low at a reading of 47.6 in November.
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