Global PMI Scorecard: Robust Growth All Around

Prieur du Plessis submits:

The non-manufacturing/services PMIs released for February 2011 continued to build on the already robust levels and are reminiscent of the robust manufacturing PMIs. The JP Morgan Global Services PMI rose to 59.3 from 58.2 in January.

The non-manufacturing sector in the U.S. continues to forge ahead with the ISM non-manufacturing PMI coming in at a very robust 59.7 compared to 59.4 in January. In the Eurozone, Germanys robust services sector moderated somewhat but the services sector in France continues to accelerate rapidly, with the PMI jumping from 59.7 compared to 57.8 in January. Elsewhere in the Eurozone, Italy and Ireland expanded rapidly, while in Spain the PMI improved to an expansionary 50.8 compared to a contraction in January. The robust expansion in France and the improved conditions elsewhere in the Eurozone took the PMI for the Eurozone to 56.8 in February from 55.9 in January despite the moderation in Germany.

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