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PVM Midday Report 01 October 2014

Published Wednesday, October 1st, 2014

Headlines

  1. Eurozone manufacturing PMI revised down to 50.3 in September
  2. UK manufacturing PMI slows to 17-month low in September
  3. Survey of German factory activity slips into contraction territory during September
  4. US mortgage applications index falls 0.2% in week ended Sep 26
  5. At least 10 killed by shelling in east Ukrainian city of Donetsk

Fundamentals

Economy: Eurozone growth prospects have taken another knock following yesterday’s soft inflation data after the release of weaker-than-expected manufacturing figures for last month – the Eurofirst 300 is retreating 0.2%. The Markit PMI manufacturing reading for the currency-bloc as a whole was revised downwards in September to 50.3 from 50.5, the lowest level since July 2013. The biggest surprise and potential source of concern was a downward revision to Germany’s manufacturing PMI which dipped below the key 50 level into contraction territory.

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Posted by Stephen Brennock

Stephen Brennock joined PVM in 2013 after having worked as a project manager for a business development firm. He graduated with a degree in Business Management in 2007.