PMIs: Growth Slowdown But Momentum Intact

Flash Purchasing Manager Indices (PMI) estimates for July for Germany, France and the eurozone as a whole released today continue to point to solid, if unimpressive growth momentum as we enter H215. The flash eurozone PMI Composite Output index came in at 53.7, while the equivalent readings for Germany and France were 53.4 and 51.5 respectively (readings above 50 denote expansion). Inflationary pressures also look set to build over the coming months, with the bloc-wide output price index...

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