Eurozone Manufacturing Grows for the First Time in Five Months

Source: IHS Markit

Eurozone manufacturing climbed for the first time in five months in November, following the gains posted in new order inflows during the month. EZU is up 1.16% premarket.

• The IHS Markit Eurozone Manufacturing PMI stood at 58.4 in November, up from 58.3 in October. This is the first growth recorded since June.
• The fastest growth was recorded in Italy with a record-high PMI of 62.8, followed by the Netherlands with 60.7, Ireland with 59.9, Greece with 58.8, and Austria with 58.1.
• New order inflows for the month increased but remained subdued relative to those seen in the earlier months of the year.
• Stocks also posted a record-high amid another month-on-month increase in costs which hit the third-strongest in the series history.
• Chief Business Economist Chris Williamson noted that the near-term outlook had been dampened by the rising COVID-19 infection rates, given the impact on supply chains.