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European manufacturing PMI at 29-month high (Full Detail )

Eurozone-wide manufacturing data for November has met forecasts, reaching their best level since June 2011 as national-level numbers from the sector also beat expectations.

The Markit purchasing managers’ index survey for the shared currency area came in at 51.6, just ahead of the 51.5 predicted in a poll undertaken by Reuters.

Any reading above 50 indicates growth.

Markit said:

The recovery in the eurozone manufacturing sector accelerated again in November. Although the pace of expansion remained modest overall, the real positives were that growth extended into a fifth successive month with the rate of increase hitting a near two-and-half year high.

At national level:

  • Italy’s PMI reading for the month was 51.4, better than the 50.9 forecast
  • Germany’s index came in at 52.7, narrowly ahead of expectations of 52.5
  • France’s manufacturing sector continued to shrink, but by less than expected, with its PMI reading 48.4 against expectations of 47.8

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