BREAKING: services PMI from the European countries higher than expected 🔎

10:04 AM 6 November 2024

07:00 AM BST, Germany - Durable Goods for September:

  • German Factory Orders: actual 4.2% MoM; forecast 1.6% MoM; previous -5.4% MoM;

08:15 AM BST, Spain - PMI Data for October:

Start investing today or test a free demo

Open real account TRY DEMO Download mobile app Download mobile app
  • HCOB Spain Services PMI: actual 54.9; forecast 56.6; previous 57.0;

08:45 AM BST, Italy - PMI Data for October:

  • HCOB Italy Services PMI: actual 52.4; forecast 50.3; previous 50.5;
  • HCOB Italy Composite PMI: actual 51.0; previous 49.7;

08:50 AM BST, France - PMI Data for October:

  • HCOB France Composite PMI: actual 48.1; forecast 47.3; previous 48.6;
  • HCOB France Services PMI: actual 49.2; forecast 48.3; previous 49.6;

08:55 AM BST, Germany - PMI Data for October:

  • HCOB Germany Composite PMI: actual 48.6; forecast 48.4; previous 47.5;
  • HCOB Germany Services PMI: actual 51.6; forecast 51.4; previous 50.6;

09:00 AM BST, Euro Zone - PMI Data for October:

  • HCOB Eurozone Services PMI: actual 51.6; forecast 51.2; previous 51.4;
  • HCOB Eurozone Composite PMI: actual 50.0; forecast 49.7; previous 49.6;

Eurozone businesses showed stagnation in October 2024, with the HCOB Composite PMI Output Index at 50.0, indicating no overall growth as expansions in smaller economies were offset by contractions in Germany and France. Services showed modest gains, while manufacturing contracted. Weakening demand, a fifth consecutive monthly drop in new work, and the sharpest employment decline since late 2020 highlight fragile economic conditions. Meanwhile, inflation rates for input and output costs were among the weakest in over three years. 

Nonetheless, market reaction is limited following the publication, as investors' attention is currently focused solely on the US presidential election.

 

 

Share:
Back

Join over 1 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits