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ECONOMICS COMMENTARY
Dec 07, 2017
Record growth of European chemicals output in November
The latest Europe Sector PMI® data from IHS Markit showed surging output across a range of manufacturing sectors in November. Chemicals recorded the fastest expansion in production since the series began in January 1998, while five other manufacturing sectors posted growth rates that were among the fastest registered to date.
Leading European sectors in November
Automobiles & auto parts registered the fastest rate of expansion of all sectors monitored in November. The rate of growth was the strongest since December 2010 and among the fastest since the series began in January 1998. Similarly, technology equipment posted the fastest growth since April 2010 and the second-sharpest on record.
The strongest-growing service sector remained banks, in eighth place overall. The rate of expansion was marked, albeit weaker than October's 131-month record.
Output in the tourism & recreation sector rebounded in November, growing at the fastest rate in 22 months. The weakest rise in activity was registered in healthcare services.
Trevor Balchin, Economics Director, IHS Markit
Tel: +44 149 1461065
trevor.balchin@ihsmarkit.com
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