Euro zone composite PMI suddenly increases in November
In November, economic activity in the euro zone suddenly ascended, registering its strongest growth this year, as both the manufacturing and service sector leapt more than forecast, as preliminary data disclosed on Wednesday.
In a report, market research group Markit informed that its flash Euro Zone Composite Output Index, gauging the combined output of both the manufacturing and service sectors soared to 54.1 in November, from the previous month’s reading of 53.3 and above predictions for no change.
The flash services purchasing managers’ index ascended to 54.1 this month, from October’s final outcome of 52.8, ruining expectations for an outcome of 53.0.
The preliminary euro zone manufacturing purchasing managers’ index suddenly leapt to a seasonally adjusted 53.7 this month from a final result of 53.5 in October. It happened to be a 34-month peak.
Experts had expected the index to drop to 53.3 in November.