Manufacturing activity in the eurozone slowed at a two-year pace last November as demand for the second consecutive month declined. This comes as markets prepare to end the European Central Bank meeting this month by ending the bond buying program by about 2.6 trillion euro.
According to the Markit Statistics Office, the Composite PMI an indicator of the health of the economy in the region, fell from 51.3 to 50.7 points, near its mid-2013 low, with expectations of 50.4 points.
The Census Bureau noted that the recent data are evidence of the continuing challenges to the growth of the manufacturing sector, which may be a major obstacle to slowing economic growth in the region as a whole. However, the future production index rose to 56.3 points from its lowest level in six years, which calmed the markets somewhat.
In the end, the Census Bureau confirmed that the uncertainty still lingered on the situation - concerns about the US-China trade war that could harm the global economy, apart from political uncertainty in the region.
