The Royal Bank of Scotland/NTC Eurozone Composite Output Index rose to a 16-month high in November, up from 54.7 in October to 55.1. The latest reading indicated the twenty-eighth successive increase in private sector output and an acceleration in the rate of growth for the third month running.

Key findings for November 2005 ...

  • New Business
    The index slipped from October's 14-month high of 54.3 to 53.9 in November. However, the decline merely indicates a slight moderation in the rate of growth. Demand for goods and services has increased continually for 28 successive months. Backlogs of uncompleted work rose for the third month in a row, at the strongest pace since these first started to be monitored three years ago.

  • Employment
    At 50.9, the Employment Index remained above the 50.0 no-change level to signal a net rise in staffing levels for the third successive month in November.

  • Input Costs
    These slowed for the first time in five months in November, dipping slightly from October's nine-month peak.
The Eurozone Purchasing Managers' Indices are currently based on the results of surveys carried out in Germany, France, Spain, Italy, Austria, Ireland, Greece and the Netherlands (plus the UK, Poland and the Czech Republic for the EU data), covering over 6,000 manufacturing and services companies. These countries together account for an estimated 92% of total Eurozone gross domestic product.

For further information on the Eurozone indices, click here.

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