Euro area manufacturing PMI rises to the highest since 2011

Euro area manufacturing PMI rises to the highest since 2011

U.K. manufacturing sector showed a slowdown in the pace of expansion for a third straight month in March, where investors will keep their eyes on construction and services data due later in the week. Manufacturing PMI eased to 54.2 last month from a revised of 54.5 in February, missing analysts’ projections of 55.1. Any reading below 50 means contraction and the opposite is true. Later in the week, eyes will track the construction and predominant services’ sector figures to have a clearer picture about the health of the economy in the first quarter of 2017. As of 12:06 GMT, the pound dropped versus the U.S. dollar to 1.2497 after opening today’s trades at 1.2535.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

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