This week's US and EZ PMI's reviewed - UOB

Analysts at UOB broke down the recent PMI's for the eurozone and US economy.

Key Quotes:

"The US Markit PMI flash manufacturing reading for July increased to 53.2 from the June reading of 52.0. This was above consensus estimates of 52.2 and the highest reading for 4 months. The services-sector index was unchanged on the month at 54.2, in line with consensus forecasts. The composite output index strengthened to a six-month high of 54.2 from 53.9 previously.

The Markit Eurozone flash PMI manufacturing index declined to 56.8 for July from 56.8 previously. This was below expectations of 57.3 and the lowest reading for 3 months. The services-sector reading was unchanged at 55.4 for the month and marginally below consensus forecasts of 55.5. The composite output index declined to a six-month low of 55.8 for July from 56.3 the previous month."