Manufacturing in the euro zone accelerated at its fastest pace in two and a half years in November, helped by a ramp-up in production. But disappointing data from France and Spain added to concerns about the health of the region’s wider economy.
The Markit Manufacturing Purchasing Managers’ Index (PMI) for the euro zone came in at 51.6 in November, compared with 51.3 the previous month. A reading over 50 marks expansion.
Higher levels of manufacturing production, new orders and new export business helped the figure hits its highest level since June 2011. November’s growth marked the fifth consecutive month of expansion in the sector, and was higher than higher initial estimates of 51.5.
However, two of the euro zone’s largest economies posted a slide in activity over the month, with France’s PMI coming in at 48.4 (a 5-month low) and Spain’s falling to 48.6 (a 6-month low).
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