Tag Archives: euro area composite PMI

Fundamentals remain solid but the decline in some forward-looking indicators in July signal downside risk in the coming months. Markit’s euro area flash PMI surveys for July came in on the soft side. The composite PMI for the euro area fell to 54.3 in July from 54.9 in June, below consensus expectations. At the sector level, the manufacturing PMI index rose marginally, putting a halt to six consecutive months of...

Fundamentals remain solid but the decline in some forward-looking indicators in July signal downside risk in the coming months.Markit’s euro area flash PMI surveys for July came in on the soft side. The composite PMI for the euro area fell to 54.3 in July from 54.9 in June, below consensus expectations. At the sector level, the manufacturing PMI index rose marginally, putting a halt to six consecutive months of decline.The services PMI declined to 54.4, but this followed a 1.4 points jump...

Leading indicators point to an acceleration in already strong job creation in the quarters ahead.Recent economic crises took a heavy toll on the employment level in the euro area, with almost five years of uninterrupted employment losses. Between its pre-crisis peak in the first quarter of 2008 and the second quarter of 2013, euro area employment levels fell by 3.6%, or more than 5.5 million.However, since hitting a low point in the second quarter of 2013, euro area employment has shown...

The euro area composite PMI index fell slightly in October, consistent with our forecast of a moderate slowdown in activity in Q4.The euro area composite flash PMI declined to 55.9 in October, from 56.7 in September, below consensus expectations, led by a drop in the services sector which offset an increase in manufacturing. However, survey details were fairly strong, especially in terms of job creation.In Germany, the survey points to robust private sector growth. The PMI index decreased,...

Better-than-expected Flash PMI numbers in September mean that the quarter is ending on a strong note, with some upside risks ahead.Flash PMI surveys for the euro area ended the third quarter on a strong note. The composite flash PMI increased to 56.7 in September from 55.7 in August against consensus expectations for a stable print (55.6).The breakdown by sub-indices showed pretty strong signals in most forward-looking components, with the sole weak spot manufacturing new export orders....

PMI surveys for the euro area eased somewhat in July, suggesting that momentum slowed at the start of Q3. We maintain our GDP growth forecast of 1.9% for 2017.The composite flash PMI fell to 55.8 in July from 56.4 in May, below consensus expectations (56.2). The headline dip was entirely driven by the manufacturing index, which fell to 56.8 in July from 57.4 in June. By contrast, the services index remained stable at 55.4. The PMI’s forward-looking components remained pretty strong, despite...