Europe 1 with AFP 10:55 a.m., November 23, 2022
Inflation seems to be easing in the euro zone in November compared to October, as are supply difficulties.
Despite everything, the economy is contracting for the fifth consecutive month according to the Flash PMI index, showing activity that remains in decline.
Economic activity in the eurozone contracted slightly less sharply in November than in October, while inflationary pressures showed signs of easing, according to the Flash PMI index published on Wednesday by S&P Global.
The index, calculated on the basis of business surveys, recovered slightly to 47.8, after 47.3 in October.
The economy is still contracting for the fifth consecutive month.
A figure below 50 signals a decline in activity.
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Less severe supply difficulties
Data for the fourth quarter suggests "a quarterly GDP contraction of just over 0.2%," S&P economist Chris Williamson said in a statement.
"A few tentative signs of improvement are emerging from the latest survey results, however, including a slowing in the pace of contraction compared to October," he said.
"Strong price pressures... are showing signs of easing, particularly in the manufacturing sector," he added.
“Supply difficulties also seem to be easing (…) The mild temperatures have also helped to somewhat ease fears about possible energy shortages during the winter period,” he added. underline.