Eurozone Markit flash manufacturing and services PMI’s tumble in December 2018

December 2018 Eurozone Markit flash manufacturing and services PMI’s 14 December 2018

Manufacturing 51.4 vs 51.9 exp. Prior 51.8
Services 51.4 vs 53.5 exp. Prior 53.4
Composite 51.3 vs 52.8 exp. Prior 52.7

Getting precariously close to the contraction level. It’s all temporary thought. New QE in March 2019? 😉

“Cost pressures remained elevated but eased to the weakest since April. Cost inflation was alleviated by lower oil and other commodity prices, as well as fewer supply constraints relative to demand in much of the region (the incidence of supply chain delays was the lowest for almost two years), France being a notable exception. Output price inflation also cooled to the lowest since September of last year, though remained far stronger in Germany than in France or the rest of the region as a whole”

EURUSD has already been dumped on the French and German numbers and it sits weakly under 1.1300 at 1.1292.