The sharp contraction in the eurozone manufacturing sector continued in November

(Boursier.com) — As for France, PMI HCOB data produced by S&P Global once again highlight a sharp contraction in the euro zone manufacturing sector in November, even if the final index is revised upwards compared to his flash estimate. The HCOB PMI index for the manufacturing industry thus stood at 44.2, compared to 43.1 in October, and reached its highest level since last May. The index is below 50 for a seventeenth consecutive month.

Dr. Cyrus de la Rubia, Chief Economist at the Hamburg Commercial Bank, comments on the latest results of the survey: “the manufacturing sector in the euro zone experienced a difficult month of November, marked by a further drop in production and by a sixth consecutive monthly decline in employment. Although most of the survey’s sub-indexes recovered slightly compared to October, the improvement thus reported was modest and lacking the dynamism necessary to reflect a real upward trend “.