Euro area supports service sector activity.

Economic Activity in the Euro Area: Service Sector in the Forefront

S&P Global data indicates that the Euro Area composite PMI index fell to 52.4 in November, yet managed to stay above the 50 threshold. It had reached its highest level in two years at 52.5 in October.

Growth Momentum in the Service Sector

In November, the Service PMI index increased from 53 in October to 53.1. This is recorded as the highest level seen since May 2024. A value above 50 for the index indicates growth in the sector.

Decline in the Manufacturing Sector

On the other hand, a decline is observed in the manufacturing sector. The Manufacturing PMI index dropped below the 50 threshold to 49.7.

Economic Resilience Prevails

The 20 members of the Euro Area continue to demonstrate economic resilience despite the high global uncertainty environment since the beginning of the year. In Germany, although the composite PMI at 52.1 points fell below expectations, it emphasizes that the country continues to be an economic driver.

In France, despite budgetary constraints, the PMI rose to 49.9, exceeding expectations and signaling signs of economic recovery.