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Financial News: Eurozone Private Sector Growth Strengthens In November

Eurozone Private Sector Growth Strengthens In November

11/23/2017 - 04:17:00 (RTTNews)

(RTTNews) - Eurozone private sector activity growth strengthened in November, flash survey data from IHS Markit showed Thursday.

The headline composite output index increased to 57.5 in November from 56.0 in October. This was the highest score since April 2011. The reading was forecast to remain unchanged at 56.0.

The factory Purchasing Managers' Index climbed to 60.0 in November from 58.5 a month ago. The expected level was 58.2.

Similarly, the services PMI came in at 56.2 in November versus 55.0 in October. Economists had forecast the score to rise slightly to 55.2.

"Growth kicked higher in November to put the region on course for its best quarter since the start of 2011," Chris Williamson, chief business economist at IHS Markit, said.

"The PMI is so far running at a level signaling a 0.8 percent increase in GDP in the final quarter of 2017, which would round-off the best year for a decade."

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