Euro-Zone Manufacturing Contracts; French Jobless Rate Rises

Arthi Gupta
01 Dec, 2011
New York City

Euro area manufacturing activity contracted in November. Germany''s exports and French jobless rate rose but Swiss gross domestic product eased in the third quarter.

[R]2:00 PM Frankfurt – Euro area manufacturing activity contracted in November. Germany''s exports and French jobless rate rose but Swiss gross domestic product eased in the third quarter.[/R]

German Exports Up

Germany''s total exports increased 10.1% in the third quarter compared to a year ago, the Federal Statistics Office said on Thursday.

Germany''s exports to European Union member states rose 0.9% from a year ago in nominal terms.

French Jobless Rate Rises

The ILO-jobless rate for metropolitan France rose to 9.3% in the third quarter, from 9.1% in the second quarter data released by the statistics office INSEE showed today. The number of unemployed was 2.631 million during the quarter.

The unemployment rate for youth between 15-24 years dipped to 21.6% in the third quarter from 21.7% in the second quarter and totaled 613,000.

Euro-zone Manufacturing Contracts

Euro-zone manufacturing activity shrank at the fastest pace in 28 months in November, the latest survey report from Markit Economics showed today.

The purchasing managers'' index for the manufacturing sector fell to 46.4 in November from 47.1 in October. This matched the preliminary estimate.

German Factory Sector Declines

Activity in the German manufacturing sector decreased at a faster pace in November, data from a survey by Markit Economics and BME showed.

The seasonally adjusted purchasing managers'' index for the manufacturing sector decreased to 47.9 in November from 49.1 in October.

Greek Manufacturing Shrinks

The Greek manufacturing sector contracted in November, data from a survey by Markit Economics showed.

The purchasing managers'' index for the manufacturing sector contracted for the twenty-seventh consecutive month to 40.9 in November.

Spanish Factory Sector Drops

Spain''s manufacturing sector contracted for the seventh consecutive month in November, data from a survey by Markit Economics showed on Thursday.

The purchasing managers'' index for the manufacturing sector declined to 43.8 in November from 43.9 in October.

Swiss GDP Weakens

Swiss gross domestic product expanded at a slower pace of 0.2% sequentially in the third quarter compared to 0.5% growth in the second quarter as exports and business investments declined.