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Eurozone Manufacturing and Services PMI rose in December

Tuesday, Dec 16 2014

 Flash Eurozone Services PMI Activity Index rose to 51.9 from 51.1 in November, beating slightly expectation on an incline to 51.5.  Flash Eurozone Manufacturing PMI came to 50.8 from 50.1 in November, what is a 5-month high.  Rates of expansion remained weak in both manufacturing and services. However, while growth of manufacturing output was unchanged on November, a slightly upturn in the pace of business activity growth was recorded in the service sector.  

 

On one hand, the upturn in the PMI supports the view that the ECB stimulus is starting to take effect and that more time is needed to assess the impact of current measures. On the other hand,   the disappointing rate of expansion, and especially the weakness evident in Germany and France, will add to calls for additional stimulus to be sanctioned without further delay. 

 

After the figures, euro went further up and is currently being traded slightly below 1.250 handle. Later today, German and Eurozone  Economic Sentiment figures are scheduled for a release..

 
More in this category: « Germany Manufacturing PMI increased to 51.2 UK CPI has fallen to a 12-year low »

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