The data released in the European period today, Monday, showed an improvement in most of the services and manufacturing PMIs in the euro area in the February reading, as the services index rose to its highest level in three months to 55.8 in February, compared to 51.1 in January.
On the other hand, the growth of the manufacturing index declined to 58.4, its lowest level in two months, compared to 58.7 in January (expectations 58.9).
In details, the services PMI rose in France to 57.9 in February compared to 53.1 in January, recording its highest reading in 49 months, to come better than expectations that indicated a decline to 54, on the other hand, the manufacturing index rose to 57.6 in February, recording its highest level in Seven months, compared to 55.5 in January (expectations 55.5).
From Germany, the services index rose to its highest reading in six months at 56.6 in February compared to 52.2 in January to come in better than expectations that indicated a growth of 53.2, the manufacturing index in turn rose to 58.5 compared to the revised January reading, down at 59.8 (expectations 59.6).
On the other hand, data from the United Kingdom came to stability in the manufacturing index at 57.3, with the same revised January reading (expectations 57.2), in contrast, the manufacturing index rose to its highest level in eight months at 60.8 compared to the revised January reading of 54.1 (expectations 55.6).
The euro is trading higher against the US dollar at 1.1365 levels, while the sterling pound is rising by more than 50 pips, trading at 1.3632 levels.
05/11/2024
ابحاث السوق
شارك المقال على منصات التواصل الإجتماعي
