Core Insights - Eurozone's private sector activity expanded at the fastest pace in two and a half years, with the composite PMI revised up to 52.8, marking a 30-month high and remaining above the neutral line of 50.0 for the sixth consecutive month [1] - The growth was primarily driven by the services sector, which saw the services PMI rise to 53.6, the highest level since May 2023, with new business growth accelerating to the fastest rate in 18 months [1] - There is a notable divergence at the country level, with Ireland achieving its highest growth rate in three and a half years, while Germany experienced a decline from a 29-month high in October [1] Economic Activity - The services sector showed clear signs of recovery, with strong performance offsetting weaknesses in manufacturing, leading to a slight increase in economic output compared to the previous month [1] - Employment in the Eurozone continued to increase in November, although the pace of growth slowed, with service sector hiring persisting while manufacturing firms experienced the fastest rate of layoffs since April [2] Inflation and Costs - Input costs rose at the fastest pace in eight months, driven by increased procurement costs for manufacturers and accelerated service sector expenses, although the ability of businesses to pass on costs to customers weakened [2] - The preliminary year-on-year harmonized CPI for November was reported at 2.2%, slightly above the European Central Bank's (ECB) medium-term target of 2% [2] - The ECB officials expressed satisfaction with the current interest rate levels, indicating a strong macroeconomic outlook that supports market confidence in maintaining rates unchanged in the coming months [2]