A difficult month of November for the Eurozone
The month of November 2024 brought with it worrying signs for productive activity in the Eurozone. According to data provided by S&P Global, the manufacturing PMI index registered a significant decline, falling to 45.2 points, compared to 46 points in October. This drop in the index is not just a number, but represents a real contraction in the sector, suggesting that the region’s economy is facing increasingly complex challenges
.
Decline also in the service sector
It’s not just the manufacturing sector that’s showing signs of weakness. The Composite Index also declined, falling to 48.1 points from 50 points in October, reaching the lows of the last ten months. This negative trend is also reflected in the services sector, where the index fell to 49.2 points, the lowest level recorded in the same period. The combination of these factors suggests a general slowdown in economic activity, with potentially serious repercussions for employment and
future growth.
A climate of uncertainty and pessimism
The S&P Global report highlights a drop in optimism among companies, with future forecasts falling to the lowest in just over a year. Companies are facing difficulties acquiring new orders, which contributes to a climate of uncertainty that could persist in the near future. This negative trend continued for the sixth consecutive month, with a high rate of decline that worries analysts and investors. The current situation requires special attention from European institutions, which will have to consider appropriate measures to stimulate growth and support the economy.