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Mixed Eurozone PMI figures

Friday, Feb 20 2015

Eurozone Manufacturing PMI rose marginally from 51.0 to 51.1, missing market expectations on and increase to 51.6 points. Growth is looking lop-sided, however, and very much dependent on the services economy where lower prices are fuelling growth, especially in consumer-facing sectors. The weakness of the manufacturing economy remains a major concern.

Services PMI, on the other hand, inclined to 53.9. Analysts were anticipating incline to 53.2. Services continued to see the stronger pace of expansion of the two sectors, with manufacturing growth remaining relatively subdued.

 

Data did not have major impact on the markets, with euro still on the downside and is currently being traded few points above 1.1320 level. Pair is likely to find support around 1.13 handle and resistance above 1.1380 level. Later today,in the US session Manufacturing PMI figures are scheduled for a release.

More in this category: « German Manufacturing PMI unchanged, Services PMI at a 5-month high UK Retail Sales fell by 0.3% »

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