Euro zone flash PMIs softer for February – can it still avert a contraction?
EZ PMI Composite slipped to 49.7 from the previous month’s 50.4 and it also comes short of the expected.
EZ PMI Services was out at 49.4 down from the previous 50.4, and PMI Manufacturing rose slightly to 49.0 from the previous 48.8.
French and Germany also reported similar trends in their PMI numbers this morning but all figures remained above the 50 that delineates contraction from growth. The services sector showed signs of easing for both Germany and France while the manufacturing sector continued to grow in France but in Germany it eased when compared to the previous figures.
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