France showing significant relative weakness
Reported Feb 20th.
Manufacturing PMI has yet to hit expansion territory.
Meanwhile, Services PMI just hit a 9-month low and seems to be carving out a top.
A feeble Eurozone recovery without France isn’t an all-clear from the Euro crisis.
Important for Next week:
- Will the Fed officially announce tapering in the FOMC statement?
- Will data on housing starts, homebuilder confidence, and existing home sales begin to reflect persistent weakness in mortgage applications?
- Industrial production for the U.S. should show a sector humming along, given strong readings in the ISM’s manufacturing index.
- Was last week’s very bullish jobless claims reading a fluke or genuine improvement in the labor market?
- The UN releases a report on the chemical attacks in Syria, likely providing clues as to who used them.
- Are reports from Gen. Salim Idriss (head of the opposition Free Syrian Army) claiming Syria is moving its chemical weapons cache out of the country to Iraq and Lebanon true?