The final reading of manufacturing PMI across the Eurozone this morning has confirmed the dismal state of activity in the region, turning focus onto tomorrow’s rate setting meeting of the ECB. Across the Atlantic, manufacturing activity for April indicated a faster pace of expansion, contrary to the regional manufacturing data. The ADP employment data due today is likely to draw market attention as it usually serves as a precursor to the non-farm payrolls report slated for Friday.
At home, following yesterday’s weak manufacturing PMI, data just out indicated that construction activity in the UK expanded at a slower pace for April.
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