Eurozone manufacturing activity continued to recover in November, supported by expansion in output and new orders, a survey by Markit Economics revealed Monday.
The headline purchasing managers' index, a gauge of the manufacturing performance, rose to 51.6 in November from 51.3 in October. The latest reading was slightly up from the flash estimate of 51.5.
The headline PMI is currently at its highest level since June 2011, Markit said. Levels of manufacturing production, new orders and new export business all rose for the fifth consecutive month, the survey report said.
The PMIs for Germany, Italy, the Netherlands, Austria and Ireland all signaled expansion in November, with the rates of increase accelerating in all except Ireland. Operating conditions deteriorated in France and Spain, while the pace of decline in activity eased in Greece.
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