Last month, a sharp decrease in the level of manufacturing activity was recorded in Europe, and a further downward dynamic of demand became an obstacle to any hopes for an early recovery of the indicator.
It is worth noting that the eurozone’s economic system may face a new challenge in the foreseeable future. In this case, it implies the intentions of Donald Trump, who won the United States presidential election last month, to tighten Washington’s tariff policy. Appropriate measures may affect, among other things, the eurozone, which will become an additional burden for it in an already difficult situation.
HCOB’s final eurozone manufacturing Purchasing Managers’ Index (PMI) compiled by S&P Global was fixed at the level of 45.2 in November. It is worth noting that this result corresponds to preliminary expectations. The 50 mark separates growth from contraction.
In October, the mentioned figure was 46. It is worth noting that in this case, since the middle of 2022, the headline reading has been below 50 points.
Manufacturing activity in Germany, Europe’s largest economy, in November, remained firmly entrenched. At the same time, France last month saw the sharpest decrease in new orders since the first wave of the coronavirus pandemic in 2020. In Germany, the November PMI was 43. In France, the corresponding figure was recorded at 43.1 last month.
In the United Kingdom, outside the European Union, the November PMI showed the sharpest contraction in the last nine months as orders from domestic and foreign customers fell. The corresponding figure in the UK last month was 48.
As we have reported earlier, Euro-Area Inflation Climbs to 2.3%.
