Report
PMI edges higher
The euro area composite flash PMI improved slightly in February, pointing to a stabilization of economic activity in Q1. The manufacturing PMI declined further, suggesting that the industrial cycles has not yet bottomed out. This is also reflected in a further decline in the “New export orders†index, which reached its lowest level since the 2012 recession. Judging from the country data the weakness is concentrated in the German manufacturing sector. The service sector, at the same time, is picking up momentum, compensating for the weakness in manufacturing.
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Natixis
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Dirk Schumacher
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