Latest data released by Markit - 5 August 2019
- Prior 53.6
- Composite PMI 51.7 vs 52.0 expected
- Prior 52.1
The prints are softer than expected and this will start to prompt worries of whether or not we're seeing the beginning of spillover effects from the manufacturing slowdown towards the services sector in the euro area.
According to Markit, there are signs that the downturn in the industrial sector is having an adverse effect on the services economy and in my view, that's the key line in the report that could suggest more troubles for the region in Q3 and Q4.
