This morning we get the latest PMI Composite survey for the whole of the eurozone.What does that mean?
As the name might suggest, the composite PMI takes the other surveys on manufacturing sector activity and services sector activity and combines them, to give an overall view of the current state of the economy.
The figure is likely to remain above 50, reflecting overall growth.However, it has declined sharply in the last few months, as the manufacturing sector continues to contract, and services activity weakens.
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