CZECHIA: Manufacturing PMI Unexpectedly Reverses Contractionary Trend
Jan-02 08:59
- Czechia’s manufacturing PMI rose to 50.4 in December from 48.0 in November, beating expectations of no change and marking the highest reading for the series since May 2022. The data also marks a reversal of the reversal trend, with the index above the expansionary 50-threshold for the first time since June. New orders rose to 50.7 from a prior 48.7.
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CROSS ASSET: Pullback In Front End Of Gilt Curve Supports GBP
Dec-03 08:57
Front end of the gilt curve continues to lead the fade from early session highs, lending support to GBP. No clear headline drivers.
MNI: GERMANY NOV FINAL SERV PMI 53.1 (52.7 FLASH, 54.6 OCT)
Dec-03 08:55
- MNI: GERMANY NOV FINAL SERV PMI 53.1 (52.7 FLASH, 54.6 OCT)
ITALY DATA: Services PMI highest for 2 and a half years
Dec-03 08:51
A strong Italian services PMI (in contrast to the weaker-than-expected Spanish number earlier), with the press release noting that this is the highest print for 2 and a half years. Other highlights from the npress release:
- "The improvement in total new order intakes was domestic-led, as export business returned to contraction in November following a month of growth."
- "Amid reports of higher energy, maintenance, administrative and raw material costs, service providers indicated another increase in their operating expenses... A number of companies also reported higher wage bills."
- "Companies opted to raise their charges in an attempt to recover increased cost burdens, at least partially. Although the rate of selling price inflation was moderate, it reached a four-month high and contrasted with the long-run trend of discounting."
