October 2018 Eurozone Markit services PMI final 6 November 2018

  • Flash 53.3. Sep 54.7
  • Composite 53.1 vs 52.7 exp. Prior 52.7

The rest of the PMI’s today;

  • Spain 54.0 vs 51.8 exp. Prior 52.5
  • Composite PMI 53.7 vs 52.1 exp. Prior 52.5
  • Italy 49.2 vs 52.0 exp. Prior 53.3
  • Composite PMI 49.3 vs 51.0 exp, prior 52.4.
  • France 55.3 vs 55.6 exp. Prior 55.6
  • Composite 54.1 vs 54.3 exp/prior
  • Germany 54.7 vs 53.6 exp. Prior 53.6
  • Composite 53.4 vs 52.7 exp. Prior 52.7

Despite the higher EZ numbers, Germany growth fell to a five month low and Italy into contraction. On the prices front, firms raised prices to historically high levels.

“Eurozone companies reported a disappointing start to the fourth quarter. Business activity is growing at its slowest rate for over two years and expectations have slumped to the bleakest since the end of 2014. “An export-led slowdown, linked to growing trade tensions and tariffs, has been exacerbated by rising political uncertainty, growing risk aversion and tightening financial conditions. The slowdown has consequently become more broad-based to increasingly envelop the services economy.” Said Chris Williamson of Markit

EURUSD ticking up towards the highs at 1.1422 but only up a few pips over the data.

Ryan Littlestone

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