PMI Day

• While there was some sign of improvement in Germany’s ravaged manufacturing sector, this morning’s purchasing managers data for the euro area pointed to continued stagnation in the region’s economy.
• French manufacturing was one highlight, rising to 51.6 for the month, ahead of all estimates in a Bloomberg survey.
• There were no bright spots in a dismal report for the U.K. that showed the economy’s performance was the worst since July 2016with manufacturing and services PMI both coming in below 50 and below expectations.

(Source: Bloomberg)