PMI comp indices for Germany and France higher despite weak manufacturing

9:36 AM 24 March 2023

France, PMI indices for March.

Manufacturing. Actual: 47.7. Expected: 48; Previous: 47.4
Services. Actual: 55.5. Expected: 52.4 Previous: 53.1

Germany, PMI indices for March.

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Manufacturing. Actual: 44.4. Expected: 47 Previous: 46.3
Services. Actual: 53.9. Expected: 51.0 Previous: 50.9

Although industrial data remain under pressure, the Composite index surprises the consensus on the upside. Let's remember that services are responsible for most of Europe's GDP. Source: S&P Global

The EURUSD pair extends declines after a reading of PMI data from major EU economies. The combined reading for the Eurozone will be known at 10:00 am GMT. Source: xStation 5

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