Eco Week
Economic Pulse

PMI: Slightly positive signal for global growth

12/15/2023
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According to its final estimate, the S&P Global Composite PMI improved slightly in November, wiping out almost all the decline recorded in October. The November index stood at 50.4 (compared to 50.0 in October and 50.5 in September), ending a five-month decline. This is a slightly positive signal for global growth in the middle of Q4 2023.
This modest improvement can be seen in both manufacturing and services. In the manufacturing sector, the composite PMI rose to 49.3 compared to 48.8 in October, reaching its highest level since May. This improvement can be observed in most of the countries (20 out of 30 countries). The index rose significantly at the aggregate level of the Eurozone as well as in most of its member states (with the exception of Italy, which posted a slight decline), t