European Flash PMIs: Actually Not A Complete Disaster

Flash PMI numbers are out for France and Germany and the Eurozone as a whole this morning, and… they’re not totally terrible!

German Composite output hit a 2-month high, although the services component is at a 41-month low.

In France, the total output index has hit a 3-month high.

And for the Eurozone as a whole, the composite hit a 2-month high, with manufacturing hitting an 8-month high.

None of these numbers are real great. They’re all sub-50, signaling contraction, but the pace is slightly less worse than previously, which is a start.

Here’s a quick Eurozone snapshot.


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