Eurozone Manufacturing Growth Slowly

Across region manufacturing is still healthy.

Growth in the eurozone's manufacturing sector slowed slightly in November although a "robust" pace was maintained, according to a key survey released on Dec. 1. The eurozone manufacturing sector purchasing managers' index (PMI), compiled by the research group NTC Economics, eased to 56.6 points in November from 57.0 points in October.

The November data marks the seventeenth consecutive month of growth, which requires a figure over 50.

Despite the slight slowdown in November, the index remains close to the six-year high of 57.7 reached in June.

"While the eurozone manufacturing PMI was modestly softer than expected, this needs to be put into perspective," said economist Howard Archer with consultancy Global Insight.

"It still indicates healthy manufacturing expansion overall across the region, and ongoing robust orders and high work backlogs suggests that this will continue in the near term at least, although the strong euro will pose an increasing threat to export orders," he added.

Copyright Agence France-Presse, 2006

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