Growth in eurozone factory activity accelerates slightly


Eurozone manufacturing PMI edged up to 51.6 in November (flash 51.5) from 51.3 in October.

Holland, Austria, Germany, Ireland and Italy performed well, but France remains a concern.

Output, new orders and new exports expanded for the fifth successive month but failed to halt the ongoing slide in employment, says Markit.

"Manufacturing across the region is enjoying its best performance for two-and-a-half years, but the pace of growth remains only modest," says Markit. "The data suggest that output is rising at a quarterly rate of only around 0.6% in the fourth quarter so far."

Improving exports in countries such as Italy, Spain and Ireland are offsetting domestic weaknesses, "underscoring how producers in these countries are becoming more competitive and suggesting the long-term outlook is brightening."

The euro is -0.1% at $1.3577 after being positive earlier. (PR)

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Comments (1)
  • User 353732
    , contributor
    Comments (5158) | Send Message
     
    This has been the pattern for the past 10 years. Breathless stories about acceleration and recovery to be followed by revisions and months of negligible to no growth.
    Much of Europe is in a prolonged and now irreversible state of economic, political, cultural and demographic stagnation or decline.
    2 Dec 2013, 07:30 AM Reply Like
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