Analyst, Nick Kounis, at ABN AMRO explained that the eurozone PMI surveys suggest the soft patch in the eurozone economy is continuing into Q3. The composite output index (a tracker of GDP growth) slipped to 54.3 in July from 54.9 in June. Key Quotes: “That is above the low of 54.1 in May but below the elevated levels (around 58) seen at the turn of the year. At current levels, the indicator is consistent with economic growth of 0.4% qoq, which is roughly around trend.” “A fall in the services PMI (54.4 from 55.2) offset a modest rise in the manufacturing PMI (55.1 from 54.9). However, the details of the manufacturing PMI were not encouraging, with new orders continuing to weaken in July, driven by an ongoing slowdown in export growth.” “We think that somewhat firmer global growth and ongoing solid domestic fundamentals should see economic growth firming somewhat later in the year. However, the risks are skewed to the downside.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Agriculture Dept: Authorizing up to $12 bln in programs to assist farmers hurt by tariffs FX Street 5 years Analyst, Nick Kounis, at ABN AMRO explained that the eurozone PMI surveys suggest the soft patch in the eurozone economy is continuing into Q3. The composite output index (a tracker of GDP growth) slipped to 54.3 in July from 54.9 in June. Key Quotes: "That is above the low of 54.1 in May but below the elevated levels (around 58) seen at the turn of the year. At current levels, the indicator is consistent with economic growth of 0.4% qoq, which is roughly around trend." "A fall in the services PMI (54.4 from 55.2) offset a modest rise in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
