Eurozone manufacturing slowed in November

Manufacturing activity shrank in November for the third consecutive month in the eurozone, research firm Markit Economics confirmed Monday. In a final estimate, Markit said the Purchasing Managers Index for the eurozone dropped to 47.5 in November. The previous "flash estimate" had pegged the eurozone's PMI at 47.8. Numbers above 50 indicate business growth and numbers below show a contraction. Markit said the index showed manufacturing growth in Germany and Ireland, while manufacturing contracted in the 15 other countries that share the euro as currency. Ireland's PMI reached a 9-month high at 52.7. Spain's PMI hit a 32-month low at 36.8, Markit reported.