FX.co ★ Eurozone Manufacturing PMI Dips Below Growth Threshold in November

In November 2025, the eurozone's manufacturing Purchasing Managers' Index (PMI), as reported by HCOB, has slipped to 49.6, retreating from a neutral position of 50.0 recorded in the same month. Released on December 1, 2025, this slight downturn marks a pivotal regression for the region's manufacturing sector, with the index falling below the 50.0 threshold that traditionally distinguishes expansion from contraction.

The decline to 49.6 signals that the eurozone's manufacturing output is contracting, albeit modestly. Analysts will be watching closely to see if this movement is the beginning of a larger trend or simply an isolated dip due to the myriad pressures still facing the European economy, from supply chain disruptions to fluctuating demand in key sectors.

This development highlights concerns over potential broader economic weaknesses within the eurozone as it grapples with ongoing global economic challenges. Stakeholders will be keenly awaiting the upcoming economic data releases to assess the direction in which the region's industrial output is headed as 2025 progresses.