Eurozone composite PMI has been unusually steady - BBH

Research Team at BBH, notes that today flash Eurozone PMIs for August were reported and the Eurozone composite PMI has been unusually steady.

Key Quotes

“It has been between 53.0 and 53.2 since February.  The August composite came in at 53.3 vs. 53.1 expected and 53.2 in July.  Manufacturing was 51.8 vs. 52.0 expected and services was 53.1 vs. 52.8 expected. 

Looking at the country breakdown, Germany’s August composite came in at 54.4 vs. 55.1 expected and 55.3 in July.  Manufacturing was the expected 53.6 and services was 53.3 vs. 54.4 expected.  Elsewhere, France’s August composite came in at 51.6 vs. 50.4 expected and 50.1 in July.  Manufacturing was 48.5 vs. 48.8 expected and services was 52.0 vs. 50.5 expected.”