Markit Eurozone PMI composite index little changed in November at 45.8; for Q4, PMI data suggest strongest contraction in output since Q2 2009; activity has fallen in 14 of last 15 months
November 23, 2012
The Markit Eurozone PMI® Composite Output Index was little-changed in November according the flash estimate, up fractionally from 45.7 in October to 45.8. October’s reading had been the lowest since June 2009 and, for the fourth quarter of 2012 so far, PMI data suggest the strongest contraction of output since the second quarter of 2009.
Activity has now fallen in 14 of the last 15 months, with the exception being a marginal increase seen in January. Output fell sharply in both the manufacturing and service sectors and, while the former saw the rate of contraction ease slightly, the latter saw business activity fall at a rate not seen since July 2009.
Markit Flash Eurozone PMI®, November 2012