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Euro-Zone Manufacturing Improves As Services Slow
Tuesday, 23 June 2009 08:41:30 GMT
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Eurozone June manufacturing PMI rose to 42.4 from 40.7 in the previous month. The Services PMI on the other hand unexpectedly declined to 44.5 from 44.8 in the previous month, and after three months of improvement. The compositive PMI still rose to 44.4 from 44.0, but the dip in the services reading highlights that the recession is not over yet and that downside risks remain. Bunds remain in negative territory after the mixed release.
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