Construction PMI 42.1 Prior 48.0 That's a rough one as the German construction sector slides deeper into contraction territory amid the fallout from the Middle East conflict. Surging energy prices is translating to higher price pressures and that in turn is weighing on overall activity on the month. The steep fall in total activity at…

Services PMI 47.9 vs 52.0 expected Prior 53.3 Ouch. That's a rough hit as Spain's services sector sees a marked drop in both new business and confidence. The negative impact ties to the Middle East conflict, as costs continue to rise sharply on the month and weighing on demand conditions. HCOB notes that "sales volumes…

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Prior 48.8 Composite PMI vs 47.6 prelim Prior 48.8 More to come.. This article was written by Justin Low at investinglive.com.

Prior 48.8 Composite PMI 50.5 vs 49.2 prior Key findings: Activity levels little-changed Growth in overall new business reinstated despite sharper fall in export sales Cost pressures intensify, but charge inflation cools Comment: Eleanor Dennison, Economist at S&P Global Market Intelligence: "The uncertainty caused by the outbreak of war in the Middle…

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Prior +0.3% Core CPI +0.3% y/y Prior +0.4% Even with price pressures set to rise in the months ahead, the Swiss economy now feels like it has a bit of a buffer to work with. But in the bigger picture, it's not exactly a good thing if the Swiss franc continues to stay at more…

EUROPEAN SESSION In the European session, the only highlight is the Swiss CPI report. Headline CPI Y/Y is expected to rise to 0.6% vs 0.3% in the prior month due to higher energy prices. The data isn't going to change anything for the SNB though as the central bank has all the reasons to look…

Manufacturing PMI 51.7 vs 49.5 expected Prior 48.7 That's a surprising jump but the details show that it is mostly on the back of a notable push up in new orders and output as clients look to secure stock. Of note, HCOB points out that "growth in new work however in part reflected client stock building due…