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Prior 52.9 Composite PMI 52.5 vs 52.1 prior Key findings: Business activity rises at stronger rate, while the future outlook brightens New business growth softens slightly, but remains historically elevated Inflationary pressures intensify Comment: Commenting on the PMI data, Nils Müller, Junior Economist at Hamburg Commercial Bank, said:…

Prior 47.3 Composite PMI 49.3 vs 48.0 prelim Prior 47.8 The reading still marks a contraction in business activity but much less pronounced after the revision. Of note, the fall in new orders and employment were not as marked as the months before. HCOB notes that: “The French…

Prior 49.0 Final Composite PMI 48.5 vs 48.6 prelim Prior 50.1 Key findings: Germany Services PMI Business Activity Index at 30-month low. Germany Composite PMI Output Index at 5-month low. Rates of input cost and output price inflation ease slightly. Comment: Commenting on the PMI data, Dr. Cyrus…

Prior 50.1 Composite PMI 50.2 vs 49.5 prelim Prior 50.4 The revisions see the euro area economy post a marginal growth in business activity in May. But in all honest evaluation, it pretty much points to the economy stalling with services sector growth also grinding to a halt.…

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Eurostoxx +0.4% Germany DAX +0.6% France CAC 40 +0.3% UK FTSE flat Spain IBEX +0.2% Italy FTSE MIB +0.2% This comes as Wall Street also turned things around yesterday to finish in the black. US futures are more tentative today though, with S&P 500 futures down 0.1%. We’ll…