Latest data released by Markit - 4 July 2018
- Prior 56.4
- Composite PMI 54.8 vs 55.8 expected
- Prior 55.9
Both prints come in weaker than expected, and decline from the previous month. Not a good start to things with Italy and final prints for Germany and France to come later as well.
The composite reading is the weakest since February 2017, and that's not going to do Eurozone economic sentiment much good for Q2. As mentioned, the individual releases here may not have any impact on the euro but the collective sentiment will weigh on the single currency when put in context of the ECB's normalisation policies.
