The Eurozone's business activity downturn eased in November, but the economy is still expected to contract this quarter. The Composite Purchasing Managers' Index (PMI) showed a rise to 47.1 from October's low of 46.5, indicating continued contraction. The PMI for the dominant services industry rose to 48.2 from 47.8. Meanwhile, the UK's consumer confidence rebounded, with households more willing to make major purchases ahead of Christmas, indicating economic resilience and dampening expectations for interest rate cuts. In the US, the S&P Global Composite PMI for November remained steady at 50.7, with the services sector showing strength at 50.8 and the manufacturing sector weaker than expected at 49.4. Euro-zone inflation is expected to slow to the weakest level since July 2021, which may reassure the European Central Bank.
Euro-zone inflation probably slowed this month to the weakest since July 2021 https://t.co/Gp4vNbf5Rh
U.S. business activity steady in November - S&P Global survey https://t.co/0Z0Gyde8CH https://t.co/fslS59yU8c
Euro-zone inflation probably slowed this month to the weakest since July 2021 https://t.co/E7bNC9cYId
Euro-zone inflation probably slowed this month to the weakest since July 2021 https://t.co/9hLro4hmv2
Euro-zone inflation seen back at mid-2021 low may reassure the ECB https://t.co/gcTYrOKEAA via @CraigStirling https://t.co/dDjFqvFxuW
Sterling nears three-month high; UK consumers more upbeat https://t.co/VzCpV4e782 https://t.co/eSa6YKaiZT
US manufacturing PMI: 49.4 vs 49.9 (contraction) US Service PMI: 50.8 vs 50.3 (most expansion) Composite: 50.7 vs 50.4 (most expansion)
S&P Global Services PMI For November 50.8 Vs 50.4 Est.; 50.6 Prior S&P Global US Manufacturing PMI For November 49.4 Vs 49.8 Est.; 50 Prior S&P Global Composite PMI For November 50.7 Vs 50.7 Prior (Unchanged)
Preliminary PMI data for Manufacturing and Services sectors from S&P mixed relative to expectations. Manufacturing weaker than expected (49.4 vs 49.9). Services stronger than expected (50.8 vs 50.3).
πΊπΈ United States S&P Global Composite PMI (Nov) $USD Actual: 50.7 Previous: 50.7
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/mcgGQ1b2GH
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/9ZDmsxDWvO
Consumer confidence is rebounding, and the latest snapshot of business activity was better than expected. In short, the UK's economic resilience continues. That's good news - but it also means hopes for interest rate cuts may be overdone. https://t.co/Bb6mK3GlBr
Jump in UK consumer confidence dampens rate cut expectations https://t.co/yFVpMdeFRv
"We believe the headline activity index for the services PMI rose 0.4pt to 51.0 in the flash November report." - JPMorgan https://t.co/kd1vzuhfJK
"We forecast that the manufacturing PMIβs headline composite increased 0.5pt to 50.5 in the flash November release." - JPMorgan https://t.co/20ozJTpPs7
Euro-area consumer confidence improves more than anticipated, providing some solace at a time of economic weakness across the 20-nation currency bloc https://t.co/EdYx3fFbMJ
UK consumer confidence rebounded in November, with households more willing to splash out on major purchases ahead of Christmas, a survey found https://t.co/lXj5dbTThC
UK consumer confidence rebounded in November, with households more willing to splash out on major purchases ahead of Christmas, a survey found https://t.co/kNfnnyN0DE
Fears of recession grew for the euro zone as the PMI covering the bloc's dominant services industry rose to 48.2 from last month's 47.8 https://t.co/Y3POGMk01Y https://t.co/r9ZNgjSgYy
WATCH: Fears of recession grew for the euro zone as the PMI covering the bloc's dominant services industry rose to 48.2 from last month's 47.8 https://t.co/U5Q9n1fXFg https://t.co/i8AkbSxcZd
UK consumer confidence jumps despite lingering inflation pain https://t.co/BBeWYhtE8q https://t.co/mMxfiYpxPS
Euro zone is on track to decline again in the fourth quarter, PMI showed. The downtu in business activity eased this month, rising to 47.1 from October's near three-year low of 46.5, but still below the key 50 mark separating contraction from growth https://t.co/U5Q9n1fXFg https://t.co/T2IXgT4Tj6
Euro zone is on track to decline again in the fourth quarter, PMI showed. The downturn in business activity eased this month, rising to 47.1 from October's near three-year low of 46.5, but still below the key 50 mark separating contraction from growth https://t.co/Y3POGMkxRw https://t.co/tlo9UPRMxV
WATCH: Recession fears loom large for the euro zone. The Composite Purchasing Managers' Index or the PMI showed the bloc's economy contracted 0.1% in November https://t.co/U5Q9n1fpPI https://t.co/webghmTxfv
Recession fears loom large for the euro zone. The Composite Purchasing Managers' Index or the PMI showed the bloc's economy contracted 0.1% in November https://t.co/Y3POGMk01Y https://t.co/kZFwZBXCOa
WATCH: The downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed https://t.co/U5Q9n1fpPI https://t.co/bSdlLjqXno
The downturn in euro zone business activity eased in November but remained broadbased, suggesting the bloc's economy will contract again this quarter as consumers continue to rein in spending, a survey showed https://t.co/Y3POGMkxRw https://t.co/DdNqQxcUMd
π΄ EU STOCKS FALTER AS PMI'S INDICATE CONTRACTION - EUROPE MARKET WRAP https://t.co/JL1z28ZCGZ
MS-Euro Area Composite PMIs, employment π https://t.co/LDtJRqXlWD
Easing of eurozone business woes allays fears of deep recession https://t.co/oFHMftoXeB