Services Put Another Brick On EU Economic Foundations
On Monday, the European manufacturing numbers were pretty much unchanged from last month's. However, at above 57 PMI points, this sector is at a very decent place.
Although, producer inflation PPI (producer price index) declined by 0.4% yesterday. But, that´s another matter which is surfacing in Europe and the US right now.
Both economies are steaming at the moment, but inflation is not following suit. I don´t think energy prices are to blame for this, rather, I think it´s global competition. That´s good for the public though, since people will have to pay cheaper prices while earning more.
In the long run, this is not a good thing, but we´ll take a deeper look at this over the coming days.
Today's EU services numbers beat expectations, apart from Spain. This is yet another signal indicating that the EU economy is headed in the right direction.
The Euro is not feeling positive at the moment, but that´s due to the USD strength we have been witnessing over the last few days. Otherwise, the positive data from the EU is accumulating, so the CB (European Central Bank) has a better case now if they want to tighten their monetary policy.
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