It’s preliminary PMI day in Europe, meaning we’re getting the first read on growth across the EU in August.
France is up first and here are the numbers (anything above 50 signals growth, below contraction):
- Manufacturing: 48.5 — lower than estimates of 48.8 and down from July’s figure of 48.6;
- Services: 52 — a big beat on estimates of 50.5, which was July’s reading;
- Composite: 51.6 — beating forecasts of 50.5, flat on July’s figure.
Overall, that looks like a decent set of numbers from France. While manufacturing is still in decline, the service sector is picking up the slack and overall economic growth is outpacing estimates by a significant margin.
From 8.30 a.m. BST (3.00 a.m. ET), we’ll also be growth figures for the service sectors, manufacturing industries and overall economies of Germany and the EU as a whole.
July’s figures showed that Britain’s vote to leave the EU in late June had almost no effect on growth.
We’ll have all the figures here as they come in, refresh for the latest info.
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