Eurozone composite PMI up slightly in November

S&P Global shows that the economic slowdown in the Eurozone weakened slightly in November. However, overall demand continues to decline as consumers cut back on spending in the face of the cost-of-living crisis.

The composite Purchasing Managers’ Index (PMI), which includes manufacturing and services, rose slightly to 47.8 in November from 47.3 in October, defying expectations of a decline to 47.0.

However, the PMI remained below 50 for the fifth consecutive month, suggesting that the eurozone corporate sector continues to contract.

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