Flash PMI indices for October from France and Germany were released today at 8:15 am BST and 8:30 am BST, respectively. Market expected deterioration in both countries in both services and manufacturing sectors.
France
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Manufacturing: 53.5 vs 54.0 expected (55.0 previously)
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Services: 56.6 vs 55.5 expected (56.2 previously)
Germany
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Manufacturing: 58.2 vs 56.9 expected (58.4 previously)
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Services: 52.3 vs 55.1 expected (56.2 previously)
Actual data showed a mixed picture. Services sector in France performed better-than-expected in October while the manufacturing sector missed expectations. When it comes to the German release, tables turned. Manufacturing sector beat expectations and the services sector lagged. Stock markets caught a bid following French releases. While indices move higher in a knee-jerk move following German reading, gains were later erased.
Source: xStation5
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