MW: Euro-zone Nov. manufacturing PMI at 4-month high
By William L. Watts
LONDON (MarketWatch) -- The final reading of the Markit manufacturing purchasing managers index for the 16-nation euro zone rose to a four-month high of 55.3 in November, up from 54.6 in October but below the earlier flash estimate of 55.5. A reading of more than 50 indicates growth in activity, while a figure below 50 signals contraction. The survey found that the expansion was centered in the core of the euro zone, with activity expanding in France and Germany, while Italy, Spain, Ireland and Greece posted lackluster growth. "Austerity measures and growing political uncertainties led to weaker domestic order book inflows, offsetting any export gains and subduing recoveries, in all cases except France and Germany," said Chris Williamson, chief economist at Markit.
