Car registrations up in key Eurozone areas

NEW car registrations are up across core Eurozone countries, according to figures released yesterday by Barclays Capital Research.

The group estimates that car sales across the single currency area could rise to 10.26m in November, a 4.3 per cent rise on October.

French sales have maintained their momentum, in spite of a government scrappage scheme expiring earlier in the year. There was a small uptick of sales in Spain, yet rates still remain well below their long-term average

In Germany seasonally adjusted car sales increased by 3.5 per cent on September. This was the third positive reading in a row, as the German economy continues to surge forwards.

Earlier this week it was revealed that German factory employment in November rose at the second highest rate in the history of the Purchasing Managers Index (PMI) for manufacturing.

Today overall PMI figures are released for the whole of the Eurozone for November, as well as retail sales for October.