Eurozone’s Services Business Activity Index was 45.4 in January, down from December’s reading of 46.4, according to IHS Markit press release. The Composite Output Index in the private sector also fell from 49.1 in December to 47.8 in January. Services were the main drag on the Eurozone economy as the sector contracted for a fifth successive month and at a sharper … [Read more...] about Eurozone Service Sector Contracted for the Fifth Successive Month
Forex News
U.S Recorded Manufacturing Sector Growth Despite Falls in PMI
U.S January PMI was 58.7%, down 1.8 percentage points from December’s 60.5% reading, according to the Institute for Supply Management press release. The PMI denotes expansion in the overall economy for the eighth month in a row after contractions in March, April, and May. January’s Prices Index was 82.1%, up 4.5 percentage points from December's reading of 77.6%The … [Read more...] about U.S Recorded Manufacturing Sector Growth Despite Falls in PMI
Eurozone Manufacturing Growth Resilient Despite Falling Slightly in January
Eurozone Manufacturing PMI fell to 54.8 in January, slightly below December’s 55.2, according to the IHS Markit press release. January’s PMI was a seventh successive month of expansion and among the highest seen over the past two-and-a-half years. Eurozone recorded growth across all the broad market groups, although the improvement in the consumer goods was … [Read more...] about Eurozone Manufacturing Growth Resilient Despite Falling Slightly in January
U.K Manufacturing PMI Plunged to a 3-Month Low in January
U.K Manufacturing PMI was 54.1 in January, a 3-month low, down from December’s three-year high of 57.5, according to IHS Markit press release. The January PMI level was weighed down by a decline in new order intakes and a steep reduction in input stocks caused by COVID-19 restrictions. Manufacturing output increased for the eighth successive month in January, … [Read more...] about U.K Manufacturing PMI Plunged to a 3-Month Low in January
U.S. Recorded 0.3% Drop in Pending Home Sales in December
Pending home sales index in the U.S slipped 0.3% in December to 125.5, according to the National Association of Realtors press release. NAR attributes the drop in pending home sales to having too few homes for sale. Contract signings rose 21.4% year over year.NAR chief economist Lawrence Yun believes there is a high demand for housing and many would-be buyers, and … [Read more...] about U.S. Recorded 0.3% Drop in Pending Home Sales in December
