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Country Report Estonia Product Image

Country Report Estonia

  • Published: July 2014
  • Region: Estonia
  • 67 Pages
  • The Economist Intelligence Unit

The flash composite purchasing managers' index (PMI) for the euro zone jumped to 54 in July, up from a six-month low of 52.4 in June (anything above 50 indicates expansion).

The jump in the composite PMI for the bloc as a whole masks diverging trends by sector and geography. The services PMI reached 54.4 in July, up from 52.8 in June, representing its highest level for 38 months. However, the manufacturing PMI for the bloc as a whole was much lower, at 51.9. Although this represented a moderate uptick from the 51.8 posted in June, it is well below the average 53.2 reading for the first five months of the year.

Geographically, the divergent trends were also pronounced. Composite PMI in Germany-the euro zone's biggest economy-jumped to 55.9 in July, up from 54 in June. This was driven by an increase in the services PMI to 56.6, with manufacturing at 52.9. Meanwhile, although the French composite PMI improved, to 49.4 in July from 48.1 in June, it remains firmly in contractionary territory. The French services component moved into positive territory (50.4) for the first time in three months, but the manufacturing PMI plummeted to 47.6, a seven-month low.

Country Report Estonia

Euro zone PMI rebounds in July
Event
Analysis
Impact on the forecast

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