FX.co ★ Eurozone Private Sector Growth Hits 30-Month High

In November 2025, the HCOB Eurozone Composite PMI increased to 52.8, up from 52.5 in October and surpassing the preliminary figure of 52.4. This marks the strongest expansion in private sector activity since May 2023. The rise was primarily driven by a stronger momentum in the services sector, which compensated for a slowdown in manufacturing, where production growth decreased to its lowest in nine months. The pace of new business growth matched October's level, which was the highest in two and a half years, but this was exclusively due to the services sector, as backlogs of work continued to decline and employment across the private sector rose only slightly. On the inflation side, input cost pressures reached an eight-month high, while output price inflation dropped to its lowest point in six months. Looking forward, Eurozone firms are increasingly optimistic about the year ahead, buoyed by steady demand in services and expectations for a more stable economic landscape.