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EMU: PMI Manufacturing unchanged at 47.9 in February

Eurozone PMI Manufacturing remained unchanged at 47.9 points in February, according to data released today by Markit. This result is almost in line with projections of a slight decrease to 47.8 points.

According to Chris Williamson, Chief Economist at Markit: “The PMI held steady in February, but some consolation can be gained from the fact that January’s reading was the highest for 11 months, suggesting that the manufacturing downturn has eased so far this year compared to the pace of decline seen throughout much of last year.”

Forex Flash: Official Chinese PMI drops further in February - Nomura

Nomura economist Zhiwei Zhang notes that the official PMI surprisingly dipped to 50.1 in February from 50.4 in January, weaker than expected (Consensus: 50.5).
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Forex Flash: The Netherlands joins France on worry list - BBH

Brown Brothers Harriman analysts note that yesterday the Dutch debt market showed little reaction to the idea that new deficit forecasts show that without new measures, it will overshoot the 3% target this year and next, leaving it vulnerable to a credit downgrade.
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