Swiss Economicblogs.org
Although business surveys outpaced expectations and there are signs of rising price pressures, we continue to believe the ECB will not shift its monetary stance in the near term.The euro area composite flash PMI surged to 56.0 in February, the highest reading since April 2011. The main boost came from a surge in the services index due to strong data in Germany and France.The euro area average composite PMI is now consistent with a GDP growth rate of about 0.6% q-o-q in Q1, above our...
Read More »PMI survey signals sustained euro area expansion in Q1
