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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
- Strong services readings surprised in France, Germany and the Eurozone, as the industry continues to see a boost from the removal of restrictions in recent months. The German manufacturing sector bore the brunt of concerns regarding the Ukraine war.
- Prices continued to accelerate to new highs, with little signs of easing. This, coupled with strong economic recovery in the service sector highlighted in this morning's PMIs provides confidence underpinning anticipated hawkish moves by the ECB.
- France: PMIs all came in stronger than forecasted, services seeing a 1.4-point increase to 58.8 (56.5 expected), whilst manufacturing rose 0.7-points to 55.4 (53.7 expected). Private sector outlook expectations saw some optimism return.
- Germany: surprise 1.8-point services PMI increase to 57.9 (55.3 expected), whilst manufacturing fell 2.8 points to 54.1 (54.5 expected), with output in contractionary territory. Material shortages resulting from the Ukraine war hampered production and optimism remained significantly weak.
- Eurozone: services increased 2.1 points to 57.7 (55.0 expected), whilst manufacturing saw a softer decline of 1.2 points to 55.3 than anticipated (54.9 expected).
- UK: services dipped 4.3 points to 58.3, a substantially stronger decline than forecasted (60.0 expected) with the cost-of-living crisis weakened demand. Manufacturing saw a modest 0.1-point uptick to 55.3, unlike the expected fall to 54.0.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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