SPEU - Flash PMI Signals Stalling Of Eurozone Economy

2024-07-25 02:30:00 ET

Summary

• The flash PMI survey data for July brought the news that inflationary pressures continued to moderate, with cooling service sector price growth in particular adding to evidence that the ECB's inflation target is in sight.
• The seasonally adjusted HCOB Flash Eurozone Composite PMI Output Index, based on approximately 85% of usual survey responses and compiled by S&P Global, fell to 50.1 in July from 50.9 in June.
• The July flash composite PMI data indicate a 0.1% quarterly rate of GDP expansion in France and a 0.2% rate of contraction in Germany.
• The July survey saw some firming of input cost pressures, the rate of inflation of which ticked up to a three-month high.

The 'flash' PMI® survey data for July brought the welcome news that inflationary pressures continued to moderate, with cooling service sector price growth in particular adding to evidence that the ECB's inflation target is in sight....

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