4 Jun 2014
EZ locomotive slowing up - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman summed up the EZ PMI’s.
Key Quotes:
"The 53.2 reading was down from the 53.5 flash report. Both Germany and France's flash estimates were shaved lower."
"Italy was a bit stronger than expected, while Spain was a bit softer than expected. The composite reading (manufacturing and services) stands at 53.5,down from 53.9."
"It suggests the euro zone is not accelerating, but that a mild economic recovery remains intact. As German officials have signaled, the region's locomotive is also experiencing somewhat slower growth in Q2."
Key Quotes:
"The 53.2 reading was down from the 53.5 flash report. Both Germany and France's flash estimates were shaved lower."
"Italy was a bit stronger than expected, while Spain was a bit softer than expected. The composite reading (manufacturing and services) stands at 53.5,down from 53.9."
"It suggests the euro zone is not accelerating, but that a mild economic recovery remains intact. As German officials have signaled, the region's locomotive is also experiencing somewhat slower growth in Q2."