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French Flash Manufacturing PMI


Eurozone business growing at its fastest in 5 years

EURUSD News by Newsroom on 06:59 February 21, 2017 EST

Eurozone private sector and manufacturing growth accelerated close to a six-year high in February and job creation reached its fastest since August 2007, pushed by strong demand and optimism according to the latest IHS Markit's survey.

IHS Markit’s eurozone flash composite Purchasing Managers’ Index rose sharply to 56.0, the highest since April 2011, from 54.4 in January, much better than expectations for a slight dip to 54.3. The composite sub-index measuring employment, at 54.3, was the highest in more than nine years.

According to Markit France's momentum getting close to Germany's and suggests that if sustained, economic growth could hit 0.6 percent in the first quarter.

EURUSD is trading lower however above 1.05 and the single currency is showing weakness across the board as the French presidential election get closer.