Eurozone's comprehensive PMI survey shows that economic performance remains strong despite rising commodity prices and accelerated inflation. These two factors reinforce the ECB's rationale for raising interest rates again. The ECB is expected to implement the last rate hike in the current policy tightening cycle in December. Judging from data from member countries, the economic situation is generally improving. Germany's composite PMI rose from 51.8 to 53.8, and France's PMI rose from 48.5 to 51.2. However, France's detailed data performance is poor: both employment and new export orders are below 50, the dividing line between expansion and contraction, and the new orders index is only slightly above the boom and bust line. All of Germany's indicators have been steadily above this critical point.

Eurozone's comprehensive PMI survey shows that economic performance remains strong despite rising commodity prices and accelerated inflation. These two factors reinforce the ECB's rationale for raising interest rates again. The ECB is expected to implement the last rate hike in the current policy tightening cycle in December. Judging from data from member countries, the economic situation is generally improving. Germany's composite PMI rose from 51.8 to 53.8, and France's PMI rose from 48.5 to 51.2. However, France's detailed data performance is poor: both employment and new export orders are below 50, the dividing line between expansion and contraction, and the new orders index is only slightly above the boom and bust line. All of Germany's indicators have been steadily above this critical point.