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Writer's pictureThe Trade Academy Team
Jun 23, 20212 min read

[INFINOX] Eurozone Flash PMI (+ French and German Data)



Better than expected readings across the board continue to drive the Composite PMI ahead of its forecast improvement.

Both manufacturing and services sectors are seemingly coming out of lockdown and are ready to fire the Eurozone economic recovery into the second half of 2021.


As is often the case with the Eurozone, it seems to be Germany that is the driving force behind the rebound, with forecast being beaten across sectors.


However, this is in contrast with France that has seen forecasts missed but also the risk of a plateauing of the recovery momentum.


This will certainly need to be watched in the coming months and could begin to be a drag on the Eurozone wide data.

The key implication of these PMIs is that this should help to once more lend the euro support.


As the Eurozone economic recovery continues to accelerate out of lockdown, the US data in comparison appears to have peaked.

 

10:00 *(EU) EURO ZONE JUN PRELIMINARY PMI MANUFACTURING: 63.1 V 62.3E (12th month of expansion) - PMI Services: 58.0 v 58.0e (3rd straight expansion) - PMI Composite: 59.2 v 58.8e - New Orders (manufacturing): 63.0 v 63.3 prior (12th month of expansion) - New Business: 57.7 v 56.6 prior (2nd straight expansion).


09:30 *(DE) GERMANY JUN PRELIMINARY PMI MANUFACTURING: 64.9 V 63.0E (12th month of expansion) - PMI Services: 58.1 v 55.7e (2nd month of expansion and highest since Mar 2011) - PMI Composite: 60.4 v 57.6e - New Orders (Manufacturing): 64.9 v 64.3 prior May final reading (12th month of expansion) - New Business: 58.0 v 56.6 prior May final reading (2nd straight month of expansion and highest since Apr 2011).


09:15 *(FR) FRANCE JUN PRELIMINARY PMI MANUFACTURING: 58.6 V 59.0E (7th month of expansion) - PMI Services: 57.4 v 59.5e (3rd month of expansion and 38-month high) - PMI Composite: 57.1 v 59.0e - New Orders (manufacturing) 57.8 v 59.0 prior May final reading (6th straight expansion) - New Business: 58.0 v 57.6 prior May final reading (3rd month of expansion and highest since Jan 2018).


 
 

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