Poor number again. New business.......>

EUROZONE DATA: Poor number again. New business fell, backlogs fell, expectations

of output fell. Exports were again very disappointing. Smallest rise in

employment for 34 months. Manufacturing jobs lost at the fastest pace since June

2013. Price data also looked very weak - not encouraging at all for the ECB.

Key points from the press release:

- "Similar modest rates of growth were seen in Germany, France and the rest of

the region as a whole, with manufacturing acting as an increased drag on output

in all cases, notably in Germany."

- "Exports (including intra-euro area trade) remained a key area of weakness"

"Good exports fell at the steepest rate since November 2011, while a more muted

decline was seen for services."

- "Manufacturers reported the second-largest drop in new orders since 2012 and

service sector inflows of work slipped to the second-lowest in five months."

- "Inflationary pressures became increasingly subdued amid the slowdown. Average

prices charged for goods and services registered the smallest increase since Nov

2016, led by the largest drop in factory selling prices since April 2016."