That's according to the HSE markets final manufacturing PM I survey released Tuesday.

It fell to 53.8 in November from October's 54.8.

It was slightly ahead of the flash estimate of 53.6, though anything about 50 is a sign of growth.

The PM I showed demand fell and factories cut headcount again in November, but optimism did improve.

His progress was made on vaccines.

The future output index rose to 64.8 from 62.7, its highest since March 2018.

European powerhouse Germany was behind the blocks ongoing manufacturing recovery.

Export focused companies were particularly optimistic thanks to strong demand from abroad, while the manufacturing sector continued to expand in the block.

An earlier flash reading showed activity in the service industry contracted last month.

It comes as Europe fights arise in coronavirus infections and analysts believe this has put the eurozone on track for its first a double dip recession in almost a decade.