MNI: EZ Nov Factory Growth Near All Time Highs: IHS Markit

--Eurozone Nov Manuf PMI Jumps to 60.1 From 58.5 in Oct

     LONDON (MNI) - Eurozone manufacturing output growth accelerated in

November, a survey released Friday showed, with the headline manufacturing index

sitting close to a record high. 

     According to the survey, the index has only ever recorded a higher headline

number once, back in April 2000 -- the height of the dot.com bubble.

     The November final Markit Manufacturing Purchasing Managers' Index stood at

60.1, up from October's 58.5 and above the 60.0 flash reading. 

     According to the survey, growth was again seen across all of the "Big Four"

nations, with employment growth remaining buoyant, with jobs growth across the

Continent at a 20-year high.

     "The upturn in the euro area manufacturing sector continued to surge

forward in November. Strong accelerated expansions in production and new orders,

aided by series-record growth in new export business, underpinned the steepest

increase in employment since the survey began in June 1997," the survey said.

     "November's surveys produced a clean sheet of improved PMI readings for all

countries, resulting in the best performance for eurozone manufacturing since

the height of the dot-com boom over 17 years ago. There's only been one month

(April 2000) in the entire 20-year history of the survey with a higher PMI

reading," said Chris Williamson, chief business economist at IHS Markit. 

     "The buoyant November data looks likely to add to the global dominance of

euro area manufacturing seen so far this year. Eurozone manufacturers have

dominated the global PMI rankings in 2017, gaining an increased share of global

trade as exports boom, buoyed in part by the weak currency," he said.

     Price pressures intensified in November, with the survey noting "input

costs rose at the quickest pace in six-and-a-half years, while output charges

increased to the greatest extent since June 2011. Increased input costs

reflected a combination of rising commodity prices and a sellers' market

developing for certain inputs."

     The full text of the IHS Markit release can be seen here: goo.gl/ApyXXD

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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