FXStreet (Delhi) – Research Team at Deutsche Bank, suggests that the final revisions to the December PMI numbers were generally encouraging.
Key Quotes
“The final Euro area composite PMI was revised up 0.3pts to 54.3, with the services component up the same amount to 54.2. That took the composite back to its cyclical high seen in August.
By country, Germany saw an upward revision to its already strong flash reading, by +0.6pts to 55.5. The print for Italy was also encouraging having risen +1.7pts to 56.0. This offset a bit of weakness in the final revision for France (-0.2pts to 50.1) while the reading out of Spain also fell last month (-1.6pts to 55.1).
Our European economics team confirmed that yesterday’s PMI’s point to GDP growth of +0.5% qoq in Q4, which is slightly above their +0.4% expectation and suggestive that the economy should continue to expand at a solid rate in the near term, with external headwinds (China and the US) the main risks.”
(Market News Provided by FXstreet)