Eurozone manufacturing PMI revised upwards

By Tuba Ongun

The HCOB Eurozone Manufacturing purchasing managers index (PMI) was revised upward to 44.2 in November, replacing an initial estimate of 43.8, according to a report released on Friday.

Despite hitting a six-month high in November, the figure remained below the neutral 50.0 threshold that separates growth from contraction for a seventh straight month.

While contractions slowed in output, new orders, purchasing activity, and inventories, business confidence climbed to a three-month high.

Factory job losses across the single currency zone extended into a sixth month, with the decline in workforce numbers picking up the most speed since August 2020.

Eurozone manufacturers cut their selling prices for a seventh straight month due to a fall in input costs.

Among nations included in the HCOB Eurozone Manufacturing PMI, Austria saw the worst performance in November, closely followed by Germany and France.