Urgent: Negative PMI indicators for manufacturing and services in the Eurozone.

Data released by the S&P Global statistics office on Friday showed a negative manufacturing Purchasing Managers' Index (PMI) for the Eurozone during November, with the preliminary reading for the manufacturing PMI recording a contraction at 45.2 points, which is lower than the expectations that indicated it would record 46.0 points. The previous reading for the Eurozone in October was 46.0 points.

This indicator measures the level of activity of purchasing managers in the manufacturing sector, relying mainly on original survey data collected from 1,000 companies within the manufacturing and service sectors in the Eurozone. It is based on about 85% of the total responses to the monthly purchasing managers' survey, and a reading above 50 indicates growth, while a reading below 50 reflects contraction.

At the same time, data showed that the preliminary reading for the service sector Purchasing Managers' Index in the Eurozone also came in negative, with the index recording a contraction at 49.2 points in November, lower than market expectations which indicated the index would record about 51.6 points. The previous reading for the service indicator in October was 51.6 points.

It is worth noting that this index measures the level of activity of purchasing managers based on a survey conducted in the service sector. The services PMI for the Eurozone relies on data collected from around 500 companies in the service sector within the Eurozone. The index tracks several variables such as: sales, employment, inventories, and prices within the Eurozone. Additionally, it can be said that preliminary estimates are based on about 85% of the total responses to the monthly purchasing managers' survey, and a reading below 50 indicates a contraction in the service sector within the Eurozone, while a reading above reflects growth.