Sluggish industrial activity in U.S. and Eurozone

Sluggish industrial activity in U.S. and Eurozone

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Industrial activity in the United States has grown slightly less in November than a month earlier. Market researcher Markit reports this on the basis of preliminary figures. The purchasing managers index, which reflects industrial activity, came out at a reading of 55.4, against 55.7 a month earlier. Economists calculated in average a level of 55.7. A figure above 50 indicates growth. The indicator for the US services sector went to 54.4 from 54.8 in October. The composite index recorded a level of 54.4 against 54.9 in July.

Markit also reported that industrial activity in the euro area slowed in November compared to a month earlier. The purchasing managers’ index recorded a score of 51.5, compared to 52 a month earlier. Economists had predicted an unchanged level in average. For the services sector it stood at 53.1, against 53.7 in October. The composite index for the euro zone was 52.4, from 53.1 a month earlier. Markit also reported that slower growth was seen in the industry and services sector in Germany and France.

World trade volume contracted by 1.1 percent in September compared to a month earlier. This is evident from the monthly World Trade Monitor of the Netherlands Bureau for Economic Policy Analysis (CPB). In August, world trade increased by 0.2 percent. Global industrial production fell by 0.2 percent in September on a monthly basis. In the previous month the production increased by an adjusted 0.5 percent.

Worldwide steel production increased by 5.8 percent in October to 156.6 million tons compared to a year earlier, according to the World Steel Association.

China accounted for 82.6 million tons, an increase of more than 9 percent on an annual basis. In Japan, production fell by 4.5 percent to 8.6 million tons. In the United States, steel production increased by 10.5 percent to 7.6 million tons. Russia produced 6 million tons, a slight increase.

In Germany, the largest steel manufacturer in Europe, there was an increase of 1.4 percent to 3.6 million tons last month. Dutch steel production was 3.4 percent higher than a year earlier at 585,000 tons.

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She is the Managing Editor for in-depth discussions and analysis as well as breaking news at Markets Morning. She works closely with Editor-in-Chief Zac Berry on content and publishing initiatives for the site. Brianna Clemons has worked as a financial journalist and editor since 1997. She lives in Bucks County, PA, with her husband, four young children and one dog.

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