Today the Markit composite PMI data has been published in the euro zone, the 50.6 data is better than expected and finally shows some hopeful data in the euro zone.
The Markit Composite PMI is a monthly summary report on changes in the working conditions of private companies in the manufacturing and services sectors. The indicator is based on monthly surveys of purchasing managers of approximately 5000 private companies in the 19 countries of the eurozone.
The index is adjusted seasonally. The surveyed companies are assigned individual weights. Readings above 50 indicate that the majority of respondents value current business conditions positively. Readings below 50 denote a worsening of commercial conditions.