DOLLAR STRONG AGAIN, STIMULUS WILL CLEAR EVERYONE HAPPY
The IHS Markit Eurozone Composite PMI decreased to 51.6 in August 2020 from 54.9 in July and compared market forecasts of 54.9, a flash estimate showed. The reading pointed to loss of growth momentum in the private sector, as few restrictions were reimposed following the resurgence of coronavirus cases in some countries across the region. New orders rose for the second consecutive month, albeit at a softer pace mainly due to a drop in export sales. In addition, outstanding business continued to fall, and employment dropped for the for the sixth straight month but a weaker rate. On the price front, input prices advanced for the third successive month and at the sharpest pace since before the pandemic while output charges extended its decline to six months. Looking by region, output growth in Germany remained solid, seeing only a modest slowdown from July, while in France suffered a loss of momentum. Finally, business confidence weakened from the previous month.
The IHS Markit Eurozone Composite PMI decreased to 51.6 in August 2020 from 54.9 in July and compared market forecasts of 54.9, a flash estimate showed. The reading pointed to loss of growth momentum in the private sector, as few restrictions were reimposed following the resurgence of coronavirus cases in some countries across the region. New orders rose for the second consecutive month, albeit at a softer pace mainly due to a drop in export sales. In addition, outstanding business continued to fall, and employment dropped for the for the sixth straight month but a weaker rate. On the price front, input prices advanced for the third successive month and at the sharpest pace since before the pandemic while output charges extended its decline to six months. Looking by region, output growth in Germany remained solid, seeing only a modest slowdown from July, while in France suffered a loss of momentum. Finally, business confidence weakened from the previous month.