Eurozone manufacturing PMI falls short of expectations
Manufacturing PMI in the euro area rose to 58.4 in November. Problems in the supply chain slowed the pace of the rise in the manufacturing sector.
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The manufacturing industry purchasing managers index (PMI) in the Euro Zone gained some momentum in November.
IHS Markit Eurozone final manufacturing PMI data came in at 58.4 in November, slightly higher than 58.3 in October, below the leading data of 58.6.
Economists had predicted the PMI would be at 58.6.
Problems in supply chains limited production and caused raw material costs to climb to the highest level in more than two decades.
Chris Williamson, Senior Economist at IHS Markit, said demand is strong, but supply chain woes are becoming a concern.
