Eurozone | PMIs suggest that the economy is suffering more than expected

Summary

PMIs have fallen in February, since doubts concerning orders from abroad have resurged, hampering the growth of the manufacturing sector, whose index fell 1.3 points in the eurozone and more than 2 points in Germany. Services expectations have also worsened. The data added a downward bias to our forecast of 0.4% QoQ for the first quarter.

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