Eurozone Services PMI Fell to a 25-month Low in November
This week’s PMI data continue to confirm slowing of the Eurozone economic growth. The survey, released on Monday, showed, that business activity in the Eurozone manufacturing sector slowed for a third month in November, showing its weakest rate in over two years. Eurozone manufacturing Purchasing Managers' Index (PMI) fell to 51.8 in November from 52.0 in October.
According to today’s data, the Eurozone services PMI fell to a 25-month low of 53.4 in November from 53.7 in October. An index measuring overall new work for services firms fell to 53.4 from 53.9, its lowest in over two years. IHS Markit's Eurozone Composite Final Purchasing Managers' Index (PMI) fell to 52.7 in November from October's 53.1, the lowest level since September 2016.