EU S&P Global Composite PMI Flash (Mar) 50.5 vs. Exp. 51 (Prev. 51.9, Low. 49.7, High. 51.5)
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EU S&P Global Composite PMI Flash (Mar) 50.5 vs. Exp. 51 (Prev. 51.9, Low. 49.7, High. 51.5)
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On the Newsquawk feed at , 20 minutes before this page.
- “The survey data are indicative of eurozone GDP growth slowing to a quarterly rate of just below 0.1% in March with the forward-looking indicators pointing to a heightened risk of a downturn the coming months.
- The survey’s price gauge is meanwhile indicative of consumer price inflation accelerating close to 3%, with cost pressure likely to add still further to selling price inflation in the coming months.
- “The outlook depends on the duration of the war and any potential lasting impact on energy and supply chains, but the flash PMI data underscore how the European Central Bank is no longer in a “good place” with respect to growth and inflation, and will have to tread a cautious path with respect to policy in the face of a clear and rising risk of stagflation in the coming months.”
Context
The EU S&P Global Composite PMI showing a flash reading of 50.5, below expectations of 51, signals potential stagnation in economic growth, with a quarterly GDP growth near 0.1%. This shift suggests increased pressure on the European Central Bank to adopt a cautious monetary approach as inflation concerns rise, heightening the risk of stagflation. Traders should monitor cross-asset implications, especially in rates and the euro, as market sentiment could shift toward a more bearish outlook for the eurozone economy.
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