The Eurozone Manufacturing Purchasing Managers' Index (PMI) fell to 45.2 in November, down from 46.0 in October, according to the data released by S and P Global and Hamburg Commercial Bank on Monday.
The index has continued to stay below the critical 50-point threshold since mid-2022, which separates expansion from contraction. The prolonged decline underscores ongoing economic contraction in the Eurozone.
Among the Eurozone's major economies, Germany, France, and Italy experienced the sharpest declines in manufacturing PMI in November.
The data also showed significant drops in new factory orders, production, purchasing activity, and inventory levels across the region's manufacturing sector.
Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, commented that there are no signs of short-term improvement for the Eurozone's manufacturing PMI, signaling continued challenges for the sector.
Eurozone manufacturing PMI drops to 45.2 in Nov: data
Eurozone manufacturing PMI drops to 45.2 in Nov: data
Chinese envoy on Wednesday expressed support for the United Nations Verification Mission in Colombia (UNVMC) to continue fulfilling its mandate, advancing the Colombian-led and Colombian-owned peace process, and providing vital assistance to Colombia in achieving peace and development.
Geng Shuang, China's deputy permanent representative to the UN, made the statement when speaking at a UN Security Council meeting on the Colombian situation at the UN headquarter.
UN secretary-general's special representative for Colombia and head of the UNVMC Carlos Ruiz Massieu said that Colombia had achieved some milestones as it celebrated the eighth anniversary of a landmark peace deal. However, violent incidents earlier this year resulted in dozens of deaths. He emphasized the need for Colombia to strengthen the government's presence in remote areas, as the peace agreement remains central to achieving lasting peace in the country. He called on the international community to continue its unwavering support for this process.
Geng expressed hope that in the new year, all parties in Colombia will remain steadfast, united, and committed to writing new chapters of peace, reconciliation, and progress. Geng put forward three key expectations: achieving new progress in improving the security situation, advancing dialogue and reconciliation, and making new achievements in implementing the peace agreement.
"We support the Colombian government's efforts to increase security deployment to effectively deter violent activities, stabilize the situation as quickly as possible, ensure the safety of people's lives, alleviate the local humanitarian crisis, and strengthen protection for former armed personnel, ethnic groups and vulnerable groups such as women and children," said Geng.
Geng noted that the current peace talks between the Colombian government and the National Liberation Army (ELN) have encountered setbacks. China hopes that both sides will resolve their differences through dialogue and resume negotiations at an early date, and expects that the Colombian government's peace talks with other armed groups will remain unaffected, he said.
China commends the Colombian government, under the leadership of President Gustavo Petro, for prioritizing the implementation of the peace agreement in its governance agenda and for its efforts in areas such as rural reform and the reintegration of former armed personnel into society, Geng said.
China also calls on UN agencies, as well as international and regional partners, to continue supporting Colombia in consolidating the achievements of the peace process, he said.
Recently, armed clashes have continued between Colombia's main anti-government armed group, the ELN, and former members of the Revolutionary Armed Forces of Colombia (FARC) in the Catatumbo region, northern Colombia.
According to data from the Colombian Ombudsman's Office, the conflict has displaced 36,000 people. Petro on Monday declared a state of internal commotion.
FARC, once Colombia's largest anti-government armed group, signed a peace agreement with the government in 2016, disarmed the following year, and transitioned into a political party.
However, some FARC members refused to disarm and formed splinter groups. The ELN primarily engages in drug trafficking and other criminal activities along Colombia's Pacific coast and border regions. On Friday, the Colombian government announced the suspension of peace talks with the ELN once again.
China reaffirms support for Colombia's peace process
China reaffirms support for Colombia's peace process
China reaffirms support for Colombia's peace process
