Eurozone private sector activity remained robust in November despite a slight slowdown in the pace of growth, bolstering hopes for an economic recovery in the final months of the year.
Data released Friday by S&P Global showed the composite Purchasing Managers’ Index (PMI), a key gauge of the economy’s health, reached 52.4 in November, as expected, up from 52.5 in October.
The index reading remains above the 50-point mark that separates growth from contraction. The services sector was the main driver of the data, expanding at its fastest pace in 18 months to 53.1 in November, up from 53 in October.
However, the manufacturing sector grew at a slower pace, registering 50.5 in November, its lowest level since March, compared to 51 in the previous month.
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