FOREX ALERTS >>
DailyFX Plus Login

fundamental alert

Article

Euro-Zone Final Services PMI Revised Slightly Higher
Tuesday, 06 January 2009 08:10:47 GMT  |  DailyFX Research
Delicious
Facebook

Euro-Zone December Services PMI was revised up to 42.1 from 42.0 reported initially. Expectations had been for a confirmation of the reading, so data were marginally better than expected. Meanwhile, German final December Services PMI was revised up to 46.6 from 46.4 reported initially while the French reading was revised down to 40.6 from 41.6 reported initially. In addition, The Italian December Services PMI unexpectedly rose to 40.3 from 39.5 in November. The reading remains firmly below the 50 point no change mark and confirms that the Euro-Zone economy continued to contract in the last quarter of the year. Confidence continues to deteriorate, while preliminary inflation data, released later today, is expected to show that headline rate falling below the ECB's 2% upper limit for price stability. Officials indicated after the last cut that they may pause the easing cycle in January, but data are putting pressure on the ECB to cut rates again this month.

More Articles

Feedback Form