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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
Not much info in the S&P Global release on why March's French Services PMI was revised down so much (by 1.6 points to 53.9). The last time the final Services PMI was revised down to such a degree was Feb 2022 when the final reading came after the Russia-Ukraine war began, and the flash came before (a -2.4 point revision).
- The flash data took into account 88% of the final responses, so the remaining entries to Final were much more pessimistic. The best explanation is that it reflected nationwide labor strikes and protests at the end of the month.
- Overall though the downgrade only takes a bit of the sheen from the very strong Eurozone services performances in March, especially with the above-consensus Spain and Italy readings this morning.
- It's hard to see an economic slowdown in this chart:
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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