PPI declines in the Eurozone: Signs of recovery in 3 countries

The Producer Price Index (PPI) in the Eurozone fell by 0.3 percent on a monthly basis in November.

The European Statistical Office (Eurostat) released the PPI data for the European Union (EU) and the Eurozone for November 2023.

According to the data, the PPI in the EU decreased by 0.2 percent in November compared to the previous month and by 8.1 percent compared to the same period in 2022.

In the Eurozone, the PPI fell by 0.3 percent on a monthly basis and by 8.8 percent on an annual basis in November.

Market expectations were for the PPI in the Eurozone to decrease by 0.1 percent monthly and 8.7 percent annually.

Among EU countries, the annual PPI decline was highest in Belgium at 18.7 percent, followed by Italy at 16.3 percent, and Latvia at 15.3 percent. The annual PPI increased by 20.4 percent in Luxembourg, 10.9 percent in Slovakia, and 2.9 percent in Slovenia.

On a monthly basis, the PPI increased by 4.1 percent in Sweden, 2.4 percent in France, and 0.7 percent in Bulgaria, while it declined by 3 percent in Slovakia, 2.3 percent in Portugal, and 2.1 percent in Spain.

News Source: AA