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Market insight 22.06.2018

Decreasing business sentiment in manufacturing reflects rising concerns on trade

Decreasing business sentiment in manufacturing reflects rising concerns on trade

US: Markit Manufacturing PMI (June): 54.6 vs 56.1 expected (prior: 56.4)

  • A sharp fall in new orders has driven the index lower than expected; as seen in the eurozone, this could reflect rising concerns from the trade policy and the risks of protectionism.

 

US: Markit Services PMI (June): 56.5 as expected (prior: 56.8)

  • Sentiment has eroded from past month, but was in line with expectations.

 

Eurozone: PMI Manufacturing (June): 55 as expected (prior: 55.5)

  • Flash estimate index has weakened further from the prior month; this fall probably reflects rising concerns over trade dispute and related lower prospects on exports.

 

Eurozone: PMI Services (June): 55 vs 53.8 expected (prior: 53.8)

  • Sentiment has rebounded in services from the prior month.
  • Combined services and manufacturing index has slightly rebounded from the prior month, offering hopes of a stabilization of the eurozone activity during Q2 if concerns on trade ease somewhat.

 

Poland: M3 (May): 1.3% m/m vs 0.7% expected (prior: 0.2%)

  • M3 was up by 6.6% y/y from 5.7% y/y the prior month.


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