March 24, 2023 08:07 GMT
March Flash PMIs Due
- Flash March PMI data for the eurozone and UK is anticipated to convey common themes of a small cooldown in services (which have recently re-entered expansive territory), as demand eases slightly.
- Meanwhile modest upticks are expected across manufacturing, underpinned by easing supply pressures, despite the PMIs largely remaining below the 50 breakeven level.
- Yet recent financial market volatility may have weakened confidence with the survey period overlapping with SVB and Credit Suisse troubles, as flagged by the more downbeat German ZEW survey this month.
- French PMI data is due to kick off the round at 0815 GMT, followed by German at 0830, EZ at 0900 and the UK at 0930 GMT.
- Focus will be on shifts in the persistent trend of falling new orders and whether PPI signals an uptick.
Source: Bloomberg / MNI