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Consumer goods and financials drive EU growth in November

Staff Writer |
The latest batch of EU Sector PMI data from Markit highlighted consumer goods and financials as key growth drivers during November.

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Consumer goods has been the best-performing broad sector in three of the past four months.

Robust expansions of output were also seen in industrials, healthcare, basic materials and technology. Consumer services lagged behind, with activity nearing stagnation.

Among detailed sectors, banks led the way on the back of the sharpest rise in output for ten years.

Other financials and real estate also performed well, placing fifth and eighth respectively. Automobiles & auto parts (third) and food (seventh) remained the fastest-growing consumer goods categories.

On the other hand, beverages, which had been the top performer of all detailed sectors in 2015, sank to second from bottom in the league table. Output rose to the least extent since May 2014.

Consumer services was by far the worstperforming of the broad sectors. Output almost stagnated, hampered by a downturn in media (the first for 15 months).

Media was the only detailed area to see lower activity, while the rise in its sister sector, tourism & recreation, was only sufficient for eighteenth place. Prices data meanwhile showed that the vast majority of firms were facing mounting cost pressures in November.

In particular, input prices at basic materials companies rose at the steepest rate in five-and-a-half years.

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