Eurozone Manufacturing Sector’s Struggle Continues
November witnessed the Eurozone manufacturing sector grappling with sustained downturns, albeit with some easing in output, new orders, and inventories. The HCOB Eurozone Manufacturing PMI stood at 44.2, a six-month high, indicating a persistent contraction but with a slightly improved outlook compared to October’s 43.1.
Moderate Improvements Amid Ongoing Challenges
Despite the ongoing downturn, there were softer declines in new orders, stocks, and purchasing activity. However, the sector faced intensifying job losses, marking the sharpest employment decline since August 2020. In contrast, input costs fell markedly, allowing manufacturers to lower their selling prices for the seventh consecutive month. This trend reflects a gradual cooling of both input cost and output charge deflation rates.
