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Eurozone November PMI Service Flash 56.6 vs. 53.5 expected


Latest data published by Markit – 23 November 2021

  • Before 54.6
  • Manufacturing PMI 58.6 vs 57.3 expected
  • Before 58.3
  • Composite PMI 55.8 vs 53.2 expected
  • Before 54.2

The French and German readings earlier served as a prelude to the beats of the Eurozone’s overall report here, reaffirming a modest improvement in trade activity in services and manufacturing this month.

“A stronger expansion in business activity in November defied economists’ expectations of a slowdown, but is unlikely to prevent the eurozone from experiencing slower growth in the fourth quarter, especially since the increase cases of the virus are expected to cause further disruption to the economy in December.

“The manufacturing sector remains paralyzed by delays in supply, limiting output growth to one of the lowest rates seen since the first lockdowns in 2020. Improving the performance of the service sector could mean less. This will prove short-lived if further virus-control restrictions are to be imposed.The travel and leisure sector has already seen its growth deteriorate sharply since the summer.

“With supply delays remaining near record highs and energy prices rising, the upward pressure on prices has meanwhile intensified well above anything seen previously in the surveys.

“Unsurprisingly, given the mix of supply delays, skyrocketing costs and new concerns over COVID-19, business optimism is at its lowest since January, adding to short-term downside risks for the company. economy of the euro area. “


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