European February Flash PMI Preview

Goldman Sachs forecasts a slight increase in the Euro area February flash PMI to 51.6 and a stable UK PMI at 53.6, reflecting resilient manufacturing and services activity.

Key Takeaways

• 1.The Euro area flash PMI is expected to rise by 0.3pt to 51.6, driven primarily by manufacturing improvements in Germany and peripheral countries.
• 2.The UK composite PMI is forecast to remain firm at 53.6, though a significant divergence between output and employment indices poses downside risks.
• 3.Weather-related disruptions at major European ports and mixed high-frequency data (like truck toll mileage) represent headwinds to the manufacturing recovery.

Table of Contents

• BOTTOM LINE
• Euro Area
• Germany
• France
• UK
• PMI Forecasts
• Disclosure Appendix

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