- Prior 55.5
- Manufacturing PMI 57.0 vs 56.0 expected
- Prior 58.2
- Composite PMI 54.5 vs 53.9 expected
- Prior 55.5
The slowdown is more marked in the manufacturing sector, as growth conditions slow and business sentiment slumps amid the Russia-Ukraine war. But the key takeaway in my view is that rates of inflation in both manufacturing and services reached new record highs on the back of all this. That will keep the pressure on consumer inflation and also on the ECB in the months ahead to try and tackle the issue – not like they can do much of anything about it though.
This article was originally published by Forexlive.com. Read the original article here.