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by ForexNewsNow Team on December 1st, 2010

Euro zone manufacturing index rises to 4-month high

Euro Online FX newsNEW YORK (Forex News Now) – The euro zone manufacturing index rose to a four-month high in November, data released on Wednesday showed in one of the day’s major realtime forex news events.

In a report likely to impact currency market trading, Markit Economics said its final Eurozone Manufacturing PMI rose to 55.3 in November, up from 54.6 in October but below the earlier flash estimate of 55.5

The report added that Germany and France led the recovery, although that was offset slightly by continuing contractions in several countries, namely Spain and Greece.

The level of diffusion index is based on surveys of purchasing managers in the manufacturing industry.

It is a key indicator of economic health and therefore of importance to FX traders.

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