Eurozone and UK PMI Data Illuminate Economic Outlook Amidst Inflation Concerns

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Key Economic Events To Watch Out for on Tuesday

Our sources have outlined critical economic developments and reports scheduled to unfold on Tuesday. Among them are prominent surveys in the Eurozone and the UK.

France’s Industrial Production Data

The day’s economic news kickstarts with data on France’s industrial production for January. After recording a 1.1% upsurge in December, the numbers for January are expected to depict a minor fall of 0.1%.

Services PMI for Spain and Italy

  • Spain’s services PMI is projected to reflect an upward trend, with expectations of the indicator rising to 53.4 in February. This is a significant improvement from 52.1 recorded in the previous month.
  • Similarly, forecasts for Italy’s services PMI for the same period point towards an increase. Economists expect the figure to surge from 51.2 to 52.3.

PMI Survey Results from France and Germany

Likewise, the PMI survey results from France and Germany will be up for review. These are some of the most influential economic indicators in Europe, which makes them highly anticipated among market participants and analysts alike.

Eurozone’s final composite PMI data

Following the French and German results, attention will shift over to the final composite PMI data for the entire Eurozone. This number holds substantial clout over economists’ and investors’ sentiment regarding the region’s economic health, hence its significance. The data is anticipated to match the flash estimate of 48.9 recorded in February.

Final services PMI Data from The UK

Beyond the Eurozone, the final services PMI data from the UK is predicted to hold steady at the 54.3 mark. Service sector performance is an instrumental barometer for the UK’s economy and this holds particular implications amidst the uncertainty revolving around Brexit.

Euro Area Producer Prices

Wrapping up Tuesday’s economic diary, Eurostat, the statistical office of the EU, will be releasing the euro area producer prices data for the past month. Following a 0.8% decline in December, the prices are projected to shrink further by 0.1% on a monthly basis.

Elijah Muhammad