- Prior 54.9
- Manufacturing 58 vs 57.8 expected
- Prior 58.4
- Composite PMI 53.4 vs 54.0 expected
- Prior 55.4
A weaker reading and miss on all the prints from France and a miss on the composite reading from Germany (due to a miss in services) led to expectations of a weaker print here. All due to the rising COVID cases in Europe.
The COVID case rise in the eurozone will be a cloud over the ECB later. Hard to see anything but a dovish response from the ECB especially given the prospect of Omicron uncertainty. They may take a similar line to the BoC.
