MISS: FRENCH FLASH PMI FALLS BACK, UNDERMINING RECOVERY STORY

Here is a minor disappointment in regards to the story of the Eurozone recovery.

French Flash PMI missed slightly on both the services and manufacturing component of the index.

Markets had expected a reading of over 50 on the manufacturing side, instead it was flat at 49.7 (which means slight contraction).

Here’s the real quick and dirty summary from the report.

These aren’t horrendous numbers, but… almost everyone has been talking about the Eurozone leaving recession, and to see contractionary numbers already is a bit… disappointing.

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