24 Mar 2015
Euroarea PMIs confirm stronger growth in 2015 - Danske
FXStreet (Barcelona) - Senior Analyst at Danske Bank, Pernille Bomholdt Nielsen, reviews the Eurozone manufacturing and services PMI data release.
Key Quotes
“Manufacturing PMI increased from 51.0 in February to 51.9 in March and is now at the highest level since May 2014 (consensus 51.5, Danske Bank Markets 52.0). The details behind the improvement were good and suggest further progress in coming months.”
“The increase is due to higher new orders, which rose from 51.0 in February to 52.2 in March mainly driven by domestic demand as new export orders increased less.”
“Stocks of finished goods continued to decline, which means the orderinventory balance suggests further improvement in the manufacturing PMI going forward. It currently signals that PMI manufacturing will increase to around 55.0.”
“The higher manufacturing PMI likely reflects stronger domestic demand in the euro area as uncertainty fades, while exporters benefit from the weaker euro”
“Service PMI increased from 53.7 in February to 54.3 in March and is now at the highest level since mid-2011 (consensus 53.9, Danske Bank Markets 53.9).”
“The continued increase in the service PMI likely reflects the boost to private consumption from the lower oil price.”
Key Quotes
“Manufacturing PMI increased from 51.0 in February to 51.9 in March and is now at the highest level since May 2014 (consensus 51.5, Danske Bank Markets 52.0). The details behind the improvement were good and suggest further progress in coming months.”
“The increase is due to higher new orders, which rose from 51.0 in February to 52.2 in March mainly driven by domestic demand as new export orders increased less.”
“Stocks of finished goods continued to decline, which means the orderinventory balance suggests further improvement in the manufacturing PMI going forward. It currently signals that PMI manufacturing will increase to around 55.0.”
“The higher manufacturing PMI likely reflects stronger domestic demand in the euro area as uncertainty fades, while exporters benefit from the weaker euro”
“Service PMI increased from 53.7 in February to 54.3 in March and is now at the highest level since mid-2011 (consensus 53.9, Danske Bank Markets 53.9).”
“The continued increase in the service PMI likely reflects the boost to private consumption from the lower oil price.”