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Flash PMIs beat expectations

EUROZONE
MNI (London)

Eurozone flash estimates for Jan:

Services PMI 51.2 (52.0 expected); Dec 53.1, Manufacturing PMI 57.5 (57.0 expected); Dec 58.0, Composite PMI 52.4 (52.6 expected); Dec 53.3

  • Eurozone flash PMI readings came in slightly stronger than estimates for services and manufacturing readings. EZ services +0.8 points on estimate, manufacturing +0.5 points on estimate, composite -0.2 points on estimate.
  • Supply chain disruptions were seen easing, boosting manufacturing, whilst the surge in Omicron cases and associated restrictions led to a sharp decline in service growth.
  • Input cost inflation was seen weakening slightly.

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