Latest data released by Markit – 23 May 2019
- Prior 47.9
- Services PMI 52.5 vs 53.0 expected
- Prior 52.8
- Composite PMI 51.6 vs 51.7 expected
- Prior 51.5
Both the manufacturing and services prints disappointed and fell below their April estimates but the composite reading is seen holding steady somewhat. The slight drag on the data alongside weaker Ifo survey data sees EUR/USD slip a little to 1.1136 from around 1.1145 earlier but overall it’s not much of a change really in euro sentiment.
The data more or less confirms that economic conditions are still somewhat stable but any robust signs of a recovery from last year’s decline is still a long way from coming.