Eurozone Markit manufacturing and services flash PMI’s 23 August 2018

  • Prior 55.1
  • Services 54.4 vs 54.4 exp. Prior 54.2
  • Compostite 54.4 vs 54.5 exp. Prior 54.3

Good news on employment which hit a 6 month high, though it’s not all good news;

Future expectations of business activity meanwhile deteriorated to a 23-month low, slumping to a 34-month low in manufacturing and a 21-month low in the service sector. Optimism was subdued by recent signs of cooling demand, higher prices and rising political concerns.

Cost pressures remian high but fell to 3 month lows.

Says Markit’s Chris Williamson;

“The survey data indicate that the eurozone economy looks to have continued to grow at a steady rate in August, raising hopes that the third quarter could see GDP growth match the 0.4% expansion seen in the second quarter. In fact, the survey evidence suggests that the official data so far this year could yet be revised slightly higher.”

EURUSD not doing anything at 1.1562.

The rest of the PMI’s out today;

  • France manufacturing 53.7 vs 53.4 exp. Prior 53.3
  • Services 55.7 vs 55.1 exp. Prior 54.9
  • Comp 55.1 vs 54.6 exp. Prior 54.4
  • Germany 56.1 vs 56.5 exp. Prior 56.9
  • Services 55.2 vs 54.3 exp. Prior 54.1
  • Composite 57.7 vs 55.2 exp. Prior 55.0
  • Japan manufacturing 52.5 vs 52.3 prior


Ryan Littlestone

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