- As expected, Eurozone flash manufacturing PMI has edged up to a 29-month high of 51.5 in November from 51.3 in October.
- However, services slipped to 50.9 from 51.6 and missed consensus of 51.9.
- Composite output declined to 51.5 from 51.9 and fell short of forecasts of 52.
- Manufacturing output edged down to 52.8 from 52.9.
- "It looks like momentum is being lost again," says Markit. "Deflationary forces may be gathering," while growth outside the "big two" of Germany and France "slowed to near-stagnation." French activity actually contracted.
- Overall, the data is indicating that eurozone GDP will rise a "very modest 0.2%" in Q4, says Markit. The second-successive fall in PMI "suggests that the ECB was correct to cut interest rates to a record low at its last meeting."
- The euro is -0.1% at $1.3423. (PR)
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