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German PMI fell in January to a three-month low

Friday, Jan 22 2016
Flash Germany Manufacturing PMI fell 52.1 from 53.2 in December what is a 3-month low. Flash Germany Services Activity Index also declined to 55.4 from 56.0 in December, what is a 3-month low. Germany’s private sector economy was largely unaffected by the recent stock market turmoil and intensifying uncertainty stemming from the so-called migrant crisis at the beginning of the year, according to latest survey results. Although the headline index (which measures the combined output of manufacturing and service sector firms) fell to a threemonth low, the latest reading was higher than the 2015 average and indicative of robust, although unspectacular, growth of the German economy. 
Flash France Manufacturing PMI slipped to 50.0  from51.4 in December what is a 5-month low. On the other hand, Flash France Services Activity Index climbed to 50.6 from 49.8 in December, a 2-month high. January’s French PMI figures signalled an uneventful start to the year, with the private sector economy eking out marginal activity growth, shrugging off the recent volatility in financial markets. Competitive pressures remain strong, with firms cutting their selling prices at the sharpest rate in seven months in a bid to shore up demand, suggesting that inflation is set to remain very weak in the near future. 
 
Euro is currently being traded around 1.0820 area. Pair is likely to find support around 1.0750 handle and resistance above 1.0880 level. Later today, in the US session, Existing Home Sales figures are scheduled for a release.
More in this category: « Aussie above 0.70 handle UK Retail Sales down 1.0% »

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