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German PMI Falls to Near 6-Year Low
Earlier, data from Europe saw German and French PMIs falling back into contractionary levels. Germany‘s Flash manufacturing PMI declined to 44.7, a near 6-year low. Meanwhile, services came out somewhat steady at 54.9.
Analysts had projected Manufacturing would increase from 47.6 to 48.0. However, expectations were missed on the back of weakness in business activity inflows.
French Services and Manufacturing PMIs both depreciated into contraction levels at 48.7 and 49.8, respectively. IHS Markit reported that input cost inflation was down for the 3-month period leading to March. In addition, outstanding business deteriorated amid a slowdown in demand and a weakening activity in exports.
What’s Next for the Day?
With European data out of the way, market participants can keep an eye on Canada’s CPI inflation and Core Retail Sales.
Expectations are for Ca...
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