FX.co ★ Euro Area Manufacturing PMI Revised Lower

The latest revision of the HCOB Eurozone Manufacturing PMI brought the figure down to 49.6 in November 2025, slightly below the preliminary estimate of 49.7. This marks the lowest level in five months, down from 50 in October. The data reflects a deterioration in the Eurozone's manufacturing sector, primarily driven by signs of weakening demand. As a result, job losses in factories have deepened, and inventories have diminished more rapidly. Despite these challenges, there was a modest yet persistent increase in production and a boost in business confidence. Although output growth did not meet the survey's long-term trend, optimism regarding future expectations exceeded the historical average. Regarding input prices, there was a significant rise in November, the highest since March, following a period of relative stability since the year's start. However, output charges saw a slight reduction, suggesting limited pricing power among Eurozone manufacturers.