Eurozone November flash manufacturing PMI 46.6 vs 46.4 expected
Latest data released by Markit - 22 November 2019
- Prior 45.9
- Services PMI 51.5 vs 52.4 expected
- Prior 52.2
- Composite PMI 50.3 vs 50.9 expected
- Prior 50.6
The report here sort of summarises the overall sentiment from the French and German releases earlier. While there are green shoots starting to be observed in the manufacturing sector, domestic demand is beginning to weaken further as pointed out by the services print.
And when you weigh that as a whole, the composite reading still points to continued weakness in the euro area. As such, even if there are signs of hope, it is too soon to say that the European economy is on its way to a sustained recovery.