Free Trial
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)
In line with French and German flash PMI data this morning, the eurozone aggregate manufacturing PMI slipped deeper into contractionary territory, (down 1.8 points to 45.5- the lowest since May 2020), whilst services strengthened to a 12-month high of 56.6 (up 1.6 points). This is in contrast to consensus expectations of a moderate manufacturing uptick and services easing.
- Manufacturing output contracted at the sharpest rate since December as demand slumped, with current production relying on (falling) backlogs.
- Employment increased in aggregate to the largest extent in almost one year, and the fastest since 2007 in services. Meanwhile, job creation slowed to a 27-month low in manufacturing.
- Inflation pressures eased further in April, with manufacturing selling prices slowing to a close to two-year low amidst marked easing in supply constraints. Albeit moderating marginally, services sector selling price inflation remains high, with input costs rising sharply again on the back of higher wage demands.
- According to Dr. Cyrus de la Rubia, Chief Economist on the PMI: "Neither input prices nor sales prices [in the service sector] are showing any significant slowdown".
- Business confidence edged down due to easing energy concerns, slowing inflation, improved supply chains and less acute recession risks.
- All up, the flash April data highlights uneven growth concerns, as well as strengthening core inflation pressures on the back of strong services activity ahead of the May 4 ECB meeting.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok