The various Eurozone PMI reports we’ve seen this morning have been mixed.
Spain was weak, but it beat expectations and rose from last month
Italy missed expectations and declined from last month.
Germany was flat.
France rose, but not as much as people expected.
But here’s the gist in one number: Overall Eurozone PMI has hit its highest level, but at 46.2 the number is still very weak.
Things aren’t ideal, but there are signs that the most intense part of the downturn is over.