EURO PMI DATA: Euro Area PMI data remains in contraction territory but displays positive signs as downturn eases and prices cool. Could this be the start of a larger a trend?
Eurozone output contraction extended into the fifth month after a key index released November data although the pace of decline eased from October, indicating some tough times ahead for the continent’s economies.
Please note the S&P Global Eurozone Composite PMI® declined for the second month. Key Findings Final Eurozone Composite Output Index at 48.9 (Jul: 49.9).