Economy

IHS Markit: Eurozone business activity accelerates in November

IHS Markit: Eurozone business activity accelerates in November

India's private sector activity expanded only marginally in November, as marked growth in the manufacturing sector was broadly offset by a downturn in the service sector, survey data from IHS Markit showed Tuesday.

The firm's U.S. Composite Purchasing Managers' Output Index was 54.5, down from October's reading of 55.2. Any reading above 50 indicates expansion, while any figure below that signals contraction.

Growth in the UK's dominant sector missed expectations in November, a closely-watched index has shown. But, the rate of decline was modest.

"Given the strength of order book growth and hiring, as well as the elevated level of business optimism, the euro zone should start the New Year on a solid footing", he added.

On the other side, manufacturing orders grew at the fastest rate since October 2016.

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Business activity across the euro zone accelerated in November as firms struggled to meet booming demand, according to a survey giving the latest evidence the bloc's economy was a star performer this year.

"Heading into 2018 the big questions will be how long this growth spurt can be sustained, and whether price pressures will rise".

Inflationary pressure is also ratcheting up: the increase in input costs faced by service providers was the highest since May while the subindex of prices charged was the highest since July 2015, although the pace of the upturns in November from the previous month remained mild.

However, the level of business sentiment in the service sector towards the 12-month outlook for output rose to the strongest since July.