Euro Zone November Growth Surprisingly Strong but Outlook Darkens: PMIon November 23, 2021 at 1:01 pm

LONDON—Euro zone business growth unexpectedly accelerated this month but another wave of coronavirus infections and new restrictions, alongside price pressures, are likely to put a dent in December’s expansion, a survey showed on Tuesday. IHS Markit’s Flash Composite Purchasing Managers’ Index, a good indicator of overall economic health, jumped to 55.8 in November from 54.2 in October. That exceeded all forecasts in a Reuters poll which had predicted a drop to 53.2. Anything above 50 indicates growth. “The flash PMI’s for November surprised to the upside in the euro zone, France and Germany,” said Rory Fennessy at Oxford Economics. “However, with cases rising sharply in some euro zone countries, the near-term outlook is quickly turning more pessimistic as risks of another dangerous wave of coronavirus ramp up. A deterioration in sentiment in December is likely.” Growth in Germany’s private sector accelerated slightly but persistent supply bottlenecks in manufacturing continued to …


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