Data released at the start of the European session on Friday, November 21, showed mixed performance in most services and manufacturing PMIs for the Eurozone and the UK in the preliminary reading for November. The Eurozone services PMI improved to an 18-month high of 53.1 in November, compared to 53.0 in October (forecast 52.8). Conversely, the manufacturing PMI fell to a five-month low of 49.7 from 50.0 in July (forecast 50.1).

Specifically, the French services PMI rose to 50.8 in November, compared to 48.8 in October, marking its highest reading in 15 months (forecast 48.4). Meanwhile, the manufacturing PMI declined to 47.8 in November, its lowest reading in nine months, compared to 48.8 in July (forecast 49.0). From Germany, the services index slowed to a two-month low of 52.7 in November, compared to 53.9 in July, falling short of expectations of 54.0. The manufacturing index also declined to 48.4, compared to October’s reading of 49.6, its lowest level in six months (expectations were 49.8).

Meanwhile, data from the UK was mixed. The manufacturing index came in better than expected in November at 50.2 points, its highest level in 14 months, compared to October’s reading of 49.7. In contrast, the services index fell to a seven-month low of 50.5, compared to October’s revised reading of 51.3 (expectations were 51.9).