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As for the Manufacturing PMIs it seems that only France is lagging now, while the rest of the eurozone has managed to come out of the trough.
Export orders for the weaker countries – the PMI value is 53.8 – help substantially. The French companies do not seem competitive, export orders are shrinking. As usual, Germany has the highest value.
The Services PMIs are more closely related to tendencies in consumer spending. German consumers are currently spending the most, hence the German Services PMI is leading.
The composite PMI shows a good correlation to GDP.
George Dorgan (penname) predicted the end of the EUR/CHF peg at the CFA Society and at many occasions on SeekingAlpha.com and on this blog. Several Swiss and international financial advisors support the site. These firms aim to deliver independent advice from the often misleading mainstream of banks and asset managers.
George is FinTech entrepreneur, financial author and alternative economist. He speak seven languages fluently.
