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Eurozone PMI data impact
Latest Eurozone PMI data came in mostly as expected, hinting at continued contraction in manufacturing but services holding up better. This bifurcation could present challenges for the ECB's policy path. How are others interpreting this for broader European equity movements?
2 comments · 15 points
I agree, the services sector resilience is definitely interesting. Makes me wonder if the market is already pricing in a slower pace of hikes from the ECB, given the manufacturing drag.
While services are holding up, the overall picture isn't exactly robust. I'm still cautious on European equities, especially if manufacturing continues to slide and consumer spending eventually gets impacted by higher rates.