- liver Kolodseike, an economist at Markit
Business activity in the Euro zone rose at the fastest pace since mid-2011 in November and far faster than predicted, as a weak Euro and price cutting helped to increase the number of new orders. According to the market research group Markit, the flash composite PMI, which measures the combined output of the both manufacturing and service sectors, climbed to 54.4 this month from 53.9 in October, reaching the highest level in more than four years and overshooting economists' forecasts for 53.9. The preliminary Euro zone manufacturing PMI increased to a seasonally adjusted 52.8 this month, hitting a 14-month high and up from 52.3 in October. At the same, the flash services PMI improved to 54.6 in November, up from 54.1 a month earlier. The recovery continued to be driven by the service sector, where business activity and new business surged at the fastest pace since May 2011 and employment showed the biggest monthly gain for five years.
Germany's economic output increased this month and companies reported that new business rose at the fastest pace in two years. The services index reached its strongest reading since September 2014 and a gauge of manufacturing also advanced. As a result, German composite index rose to 54.9, the highest since August.
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