Purchasing Managers' Index (PMI) for the manufacturing in the eurozone once again contain a contradictory message to the ECB . Increased activity in the sector continues to gain momentum, and this is especially noticeable in Italy, which confirms restrained recovery that the ECB expects to see this year.
This recovery, according to his expectations, should eventually lead to higher prices. However, the evidence also suggests that manufacturers have lowered their prices for the second month in a row. This is an alarming sign for central bankers, given the already low level of inflation in the euro area.
This recovery, according to his expectations, should eventually lead to higher prices. However, the evidence also suggests that manufacturers have lowered their prices for the second month in a row. This is an alarming sign for central bankers, given the already low level of inflation in the euro area.