The Eurozone economy rebounded in November, according to the Purchasing Managers’ Index released by the PMI moments ago, as the index showed growth in the euro zone’s manufacturing sector to its highest level in two months at 58.6 compared to October’s revised reading to 57.8 (expectations 57.5), while the services index improved in November at 56.6 compared to B54.6, recording the highest reading for the index in three months (expectations 53.6).

In the details of the index, the German manufacturing sector came better than expectations of 57.6 in November, compared to the revised 57.8 (expectations 57), its lowest level in ten months, in contrast, the services index rose to 53.4 compared to 52.4, the highest reading of the index in two months (expectations 51.4). ) .

The French manufacturing index rose to 54.6 in November, compared to 53.6, the highest level in two months (expectations 53.1), while the services sector recorded its highest reading in three years at 58.2, compared to 56.6 (expectations 55.6).

From the United Kingdom, where the manufacturing PMI rose to 58.2 in November from 57.8 in the October reading, the highest level for the index in three months (expectations 57.2), while the services index came in line with expectations and declined from the October reading of 58.6 compared to 59.1 in the October reading.

The euro rose after the data by about 40 pips against the US dollar, to test its highest level during the European session at 1.1276 levels, before declining slightly, and is now trading at 1.1260 levels, while the British pound is trading at 1.3387 levels.