It’s purchasing managers’ index (PMI) day, with the results of business surveys around the world rolling out.
When it came to the eurozone’s turn, it was almost all good news, especially for France.
Since it’s the flash, we only get a look at two countries — France and Germany, the bloc’s largest economies.
The scoring is simple — anything above 50 signals growth, the higher above 50 the better. Anything below shows a contraction.
A downturn or upswing in those countries sometimes provides a signal of what’s going on in the rest of the eurozone — and crucially it comes before any hard data is released by national statistical agencies.
Here’s what we’ve got:
- France manufacturing PMI: 50.7 (50.2 expected, 50.6 previous)
- France services PMI: 52.3 (51.6 expected, 51.9 previous)
- Germany manufacturing PMI: 51.6 (51.7 expected, 52.3 previous)
- Germany services PMI: 55.2 (53.9 expected, 54.1 previous)
- Eurozone manufacturing PMI: 52 (51.8 expected, 52 previous)
- Eurozone services PMI: 55.24.2 (53.5 expected, 53.7 previous)