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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