00:00Business activity in the Eurozone held firm in November, building on the solid pace of growth recorded last month.
00:08October's figures reflected the largest expansion in Eurozone activity in over two years, largely thanks to continued resilience in the services sector.
00:17The Flash Purchasing Managers Index, known as PMI, released on Thursday by ratings and intelligence agency S&P Global, fell marginally from 52.5 recorded in October to 52.4 this month, in line with expectations.
00:34The services sector remained the key driver of growth, with activity rising to 53.1, its highest level since May 2024, defying forecasts of a modest slowdown.
00:46Manufacturing, by contrast, lost momentum, with the PMI slipping to 49.7, its weakest reading in five months.
00:54This could be attributed to the sharp rise in input costs for businesses, possibly driven by higher tariffs and the rising electricity costs, according to data collected in a recent survey.
01:05Despite the steady growth, however, the pace of new orders at European businesses slightly softened in the month of November, as weakness in external demand persists.
Be the first to comment