Eurozone: Strong manufacturing PMI flash reading - BBH

Sandeep Kanihama FXStreet Contributor

The Eurozone’s manufacturing PMI flash reading of 60.6 was confirmed by today's final reading, notes the research team at BBH.

Key Quotes

“Recall this is the strongest reading since the series began in mid-1997. New orders are near a record and jobs maintained November's record pace. There was strong demand for investment goods, like plant and equipment. Regionally, strength was seen from Germany, Austria, Ireland, and even Greece.”

“The French flash reading of 59.3 was shaved to 58.8 but this is still a healthy gain on top of the 57.7 November reading. Spain was a bit disappointing with a 55.8 reading. It had been expected to tick up to 56.2 from 56.1. Italy also disappointed. The market expected a small gain to 58.5 from 58.3. Instead it fell to 57.4. However, this should be kept in context. It is the third best reading of 2017 and compares with a 53.2 reading at the end of 2016.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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