FOREX TradingCharts.com

Financial News: Eurozone Private Sector Growth Cools In July

Eurozone Private Sector Growth Cools In July

07/24/2018 - 09:06:00 (RTTNews)

(RTTNews) - Eurozone private sector activity growth lost momentum at the start of the third quarter as the improvement in Germany contrasted with a slowdown in France, flash survey results from IHS Markit revealed Tuesday.

The composite output index dropped to 54.3 in July from 54.9 in June. The score was expected to fall slightly to 54.8.

The latest reading was the second weakest since November 2016, only narrowly beating May's recent low.

Chris Williamson, chief business economist at IHS Markit, said the July reading is consistent with the quarterly GDP growth of 0.4 percent, down from a 0.5 percent expansion indicated by the surveys for the second quarter.

Although the fall in PMI comes as something of a disappointment, the index is still consistent with a decent pace of GDP growth at the start of the third quarter, Jessica Hinds, an economist at Capital Economics, said.

Accordingly, the European Central Bank is likely to push ahead with its plans to normalize policy very gradually, the economist added.

The IHS Markit survey showed that the manufacturing output increased at the same pace as in June, which was a 19-month low.

Meanwhile business activity growth in the service sector pulled back from June's four-month high.

The factory Purchasing Managers' Index rose unexpectedly to 55.1 from 54.9 in June. The expected reading was 54.7.

Meanwhile, the services PMI slid to 54.4 from 55.2 in June. Economists had forecast the index to fall to 55.1.

Amid trade disputes, July saw the smallest increase in new orders since October 2016. The slowdown in order book growth in manufacturing was partly due to weakened export gains.

The survey showed a moderation in employment growth in July. Price pressures remained elevated, albeit cooling slightly compared to June.

By country, Germany reported a faster growth, while France saw a slowdown. Driven by manufacturing output, Germany's private sector activity expanded at the fastest pace in five months in July.

Germany's composite output index climbed to 55.2 from 54.8 in June. The score was expected to remain at 54.8.

The services PMI dropped slightly to 54.4 from 54.5 a month ago. The services PMI was also forecast to remain stable in July, at 54.5.

On the other hand, the factory PMI rose unexpectedly to 57.3 from 55.9 in June. The reading was forecast to drop to 55.5.

Elsewhere, France saw the second weakest expansion in 18 months, stymied in particular by near-stagnant manufacturing.

France's composite output index dropped to 54.5 from 55.0 in June. The score was forecast to fall slightly to 54.9, but it remained above the neutral 50.0 mark for a twenty-fifth month in a row.

The manufacturing PMI advanced to 53.1 from 52.5 in June, while it was expected to remain unchanged at 52.5. Meanwhile, the services PMI dropped to 55.3 from 55.9 a month ago. The reading was expected to fall to 55.7.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2018 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Jobless Rate Falls To 5.3% In July (31 min(s), 58 sec(s) ago)
(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 5.3 percent in July, th ...Full Story»

Australia Unemployment Rate Falls To 5.3% In July (01 hr(s), 01 min(s), 58 sec(s) ago)
(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 5.3 percent in Jul ...Full Story»

Japan Has Y231.2 Billion Trade Deficit In July (02 hr(s), 01 min(s), 58 sec(s) ago)
(RTTNews) - Japan posted a merchandise trade deficit of 231.2 billion yen in July, the Ministry of ...Full Story»

Japan Has Y231.2 Billion Trade Deficit (02 hr(s), 21 min(s), 58 sec(s) ago)
(RTTNews) - Japan had a merchandise trade deficit of 231.2 billion yen in July, the Ministry of Fi ...Full Story»

Australia Unemployment Data Due On Thursday (04 hr(s), 46 min(s), 58 sec(s) ago)
(RTTNews) - Australia will on Thursday release July unemployment data, highlighting a modest day f ...Full Story»

Turkey's Tariff Hike On US Imports Boosts Lira (12 hr(s), 03 min(s), 58 sec(s) ago)
(RTTNews) - Turkish President Recep Tayyip Erdogan signed a decree Wednesday steeply raising the i ...Full Story»

U.S. Homebuilder Confidence Edges Lower In August (12 hr(s), 21 min(s), 58 sec(s) ago)
(RTTNews) - Partly reflecting growing affordability concerns, the National Association of Home Bui ...Full Story»

U.S. Business Inventories Inch Up In Line With Estimates In June (12 hr(s), 27 min(s), 58 sec(s) ago)
(RTTNews) - A report released by the Commerce Department on Wednesday showed a modest uptick in U. ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Jobless Rate Falls To 5.3% In July

08/15/2018 - 22:18 PM (RTTNews)
(RTTNews) - The jobless rate in Australia came in at a seasonally adjusted 5.3 percent in July, th ...Full Story>>

Australia Unemployment Rate Falls To 5.3% In July

08/15/2018 - 21:48 PM (RTTNews)
(RTTNews) - The unemployment rate in Australia came in at a seasonally adjusted 5.3 percent in Jul ...Full Story>>

Japan Has Y231.2 Billion Trade Deficit In July

08/15/2018 - 20:48 PM (RTTNews)
(RTTNews) - Japan posted a merchandise trade deficit of 231.2 billion yen in July, the Ministry of ...Full Story>>

Japan Has Y231.2 Billion Trade Deficit

08/15/2018 - 20:28 PM (RTTNews)
(RTTNews) - Japan had a merchandise trade deficit of 231.2 billion yen in July, the Ministry of Fi ...Full Story>>

Australia Unemployment Data Due On Thursday

08/15/2018 - 18:03 PM (RTTNews)
(RTTNews) - Australia will on Thursday release July unemployment data, highlighting a modest day f ...Full Story>>

Binary Options Articles Courtesy of NADEX

These pages, and all content ©TradingCharts.com Inc and other copyright holders. Permission is not granted to redistribute charts, data, news or other information found on this site, in any manner. Although it is believed that information provided is accurate, TradingCharts will not accept liability for any loss or damage that may arise from use of the content, inability to access the website, or delay or failure of receive of any information provided through this site.