Eurozone Growth Stagnates in Nov. as Raw Material Jitters Hamper Productivity

Source: IHS Markit

Eurozone’s Productivity PMI was at 50.3 in November, unchanged from the previous month. The pace of expansion was the joint-weakest in eight months.DAX is up +0.49%, EURUSD is down -0.09%

• The static growth in the Eurozone reflected continuing impacts of material shortages that curtailed productivity in November. 
• Services productivity improved marginally, with the gains offset by declines in goods production among manufacturers.
• France registered modest improvements in service efficiency but goods producers fell for the fourth month. Italian manufacturers had broad-based gains in workforce-efficiency, with the pace reaching a 13-month high as Germany posted efficiency losses in both manufacturers and services.