European manufacturing figures remained in expansionary territory during the month of January, staying static and matching expectations according to the report from Markit Economics. The Euro Area manufacturing PMI for December printed at 52.3 as new orders and exports declined while employment and inventories advanced. On a constituent level, major economies in the monetary union reported mixed data. Spain reportedly experienced an uptick in January to 55.4 from prior revised 53.0, whereas Italy saw a decline to 53.2 from 55.6 over the same time period. France remained flat at 50.0, the exact threshold separating expansion and contraction, while Germany underwent expansion of 52.3, slightly higher than December’s 52.1 figure. Despite the positivity of the readings, the European Central Bank is foreshadowing additional stimulus to be announced in the upcoming March meeting, fearing the Euro Area may experience deflation if more aggressive actions are not undertaken.
Australia Holds Firm on Policy
Daily Analysis - 02/02/2016