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EUROZONE DATA: France Services Unsurprisingly Skews EZ-wide Aug Flash PMI Higher

EUROZONE DATA

The much stronger than expected French services PMI (possibly inflated by Olympic-related effects) drove the Eurozone August flash services PMI to 53.3 (vs 51.7 cons, 51.9 prior). Meanwhile, the manufacturing PMI remained firmly in contraction at 45.6 (vs 45.8 cons and prior).

“Output growth actually picked up to a three-month high in August, hinting at stronger growth momentum. Other signals from the latest set of surveys were less positive, however”.

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The much stronger than expected French services PMI (possibly inflated by Olympic-related effects) drove the Eurozone August flash services PMI to 53.3 (vs 51.7 cons, 51.9 prior). Meanwhile, the manufacturing PMI remained firmly in contraction at 45.6 (vs 45.8 cons and prior).

“Output growth actually picked up to a three-month high in August, hinting at stronger growth momentum. Other signals from the latest set of surveys were less positive, however”.

Keep reading...Show less