(CercleFinance.com) – The contraction of the euro zone economy slowed down in November thanks to an easing of inflationary pressures in November, show the first results of the S&P Global PMI surveys.
The composite ‘flash’ PMI of overall activity in the region thus recovered to 47.8 this month, from 47.3 in October, with Germany again recording the fastest pace of contraction. Mark.
The consensus gave it at 47.
This rebound is mainly attributable to the manufacturing industry, whose preliminary PMI index stood at 47.3 in November, after 46.4 last month.
In services, the ‘flash’ PMI remained at 48.6, indicating an unchanged rate of contraction compared to the previous month (48.6).
In its survey, S&P Global Market Intelligence mentions ‘a few timid signs of improvement’ such as the slowdown in the decline in new business, the easing of supply tensions and the slight improvement in the outlook for activity at twelve months.
These data show, according to the economic research office, a contraction in GDP of slightly more than 0.2% in the fourth quarter, a trend which, according to him, increases the risk of a recession in the region.
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