Euroarea manufacturing PMI to continue its slow recovery: Societe Generale

Quotes from Societe Generale Cross Asset Research:

-We expect the euro-area manufacturing PMI to continue its slow recovery, rising from 51 to 51.3 in February- a level consistent with our 0.4% qoq GDP growth for Q1 2015.

-The manufacturing sector has continued to benefit from the combined effect of lower oil prices and a weaker euro, albeit to a lesser extent than in the past.

-Conversely, the services sector PMI should stabilise at 52.7 in February but after two months of strong increase. As the services PMI (53.5) remains below the level in line with our scenario, we expect additional improvement in the coming months.