Eurozone Manufacturing Decline Continues, But Rate Slowing

03 December 2002

Manufacturing in the Eurozone contracted for the third month in a row in November, though the rate of decline slowed, according to the latest Reuters Eurozone PMI report produced by NTC Research.

The purchasing managers index, designed to provide an overall view of manufacturing conditions in the eurozone, edged up from 49.1 in October to 49.5, remaining below the 50.0 threshold between expansion and contraction.

November’s rise was fuelled by an increase in new orders, the index for which rose from 50.0 to 51.0, signalling the first increase since August.

The output index stood at 51.6, the same as in October, indicating the ninth month out of the last ten in which production has risen.

However, the manufacturing workforce across the eurozone contracted for the eighteenth successive month, though the index for this category rose slightly from 46.0 to 46.3. Input prices climbed for the eighth consecutive month, but the index dropped to 50.9.

Data sourced from: NTC Research; additional content by WARC staff