Here come the European PMIs ...

It’s a big day for European economic data, with service and composite PMI figures out for key countries and the eurozone as a whole.

The purchasing managers’ index (PMI) is a measure of whether economies and sectors are expanding or contracting. Anything above 50 signals growth, while anything below signals contraction.

We’ve already had positive flash readings for August, but today we’ll get a more detailed breakdown and more accurate figures.

Here’s what we’ve got so far:

  • Spain: services — 59.6, in-line with forecasts.
  • Italy: services — 54.6, beating forecast of 53.
  • France: services — 50.6, 51.8 predicted; composite 50.2, flash was 51.3.

Keep checking back, we’ll update as the figures come in.

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