Eurozone November final services PMI 49.5 vs 49.2 prelim ...Middle East

Prior 51.6Composite PMI 48.3 vs 48.1 prelimPrior 50.0Despite the slightly better revisions, both the services and composite readings are at 10-month lows. Weak demand conditions are being cited as the main reason new orders declining again and this time at its sharpest rate for this year. Employment conditions are starting to look shaky but that mostly owes to the manufacturing recession in the region. HCOB notes that:“Stagflation is a pretty nasty word, especially if you are a central banker, but that is what is hitting the eurozone right now. In November, the economy started shrinking while the PMI price components went up for the second month in a row. Inflation is mainly driven by servic

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Eurozone November final services PMI 49.5 vs 49.2 prelim ...Middle East

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