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Australian metallurgical coal producers expect higher exports to India but are facing increasing competition from the US and Russia, according to S&P Global Commodities at Sea data.

HCOB Eurozone Manufacturing PMI at 49.8 (Jun: 49.5). 36-month high.

France’s private sector economy continued to deteriorate at the beginning of the third quarter, with business activity shrinkingfor an eleventh successive month. July’s contraction was, however, only marginal overall and the weakest seen over the currentsequence. That said, while the headline figure showed signs of stabilisation, other data from the ‘flash’ report pointed tounderlying fragility. For example, new orders decreased markedly and at an accelerated pace, while business confidencedeteriorated sharply to its weakest since last November. Additionally, employment fell to the greatest extent in three months. 

The latest Eurozone February PMI data reveals the sharpest contraction in eurozone construction sector for three months. New orders continue to contract, although business confidence has shown some improvement, remaining largely pessimistic overall. Despite a slight easing of cost pressures, weak market demand and labor shortages remain significant challenges to the sector's recovery.

Data released on February 21 showed that the Eurozone Composite PMI for February stood at 50.2, unchanged from January, indicating that the overall economic growth momentum remained stable. The Manufacturing PMI rose to 47.3, a 9-month high, while the Services PMI fell to 50.7, a 3-month low. Despite the slowing decline in manufacturing, weak demand and falling employment still pose challenges to economic recovery.

HCOB Flash Germany Composite PMI Output Index at 51.0 (Jan: 50.5), 9-month high. HCOB Flash Germany Manufacturing PMI at 46.1 (Jan: 45.0), 24-month high. HCOB Flash Germany Services PMI Business Activity Index at 52.2 (Jan: 52.5), 2-month low.

Data released on February 21 revealed that France's Composite PMI fell to 44.5 in February, marking a 17-month low. The Manufacturing PMI rose to 45.5, a nine-month high, while the Services PMI declined to 44.5, also a 17-month low. The private sector economy in France contracted further in February, with the pace of business activity contraction accelerating to its fastest since September of the previous year.

The February PMI data for Japan indicates an accelerated expansion in private sector economic activity, with the composite PMI reaching a five-month high. While the service sector continued to expand, the manufacturing sector remained weak. Business confidence declined to its lowest level since 2021, reflecting the impact of inflation, labor shortages, and economic uncertainty.

The latest data on Australia's February PMI reveals an accelerated pace of expansion in private sector business activities, with a further increase in the growth rate of the services sector. However, manufacturing growth remains sluggish. Despite continued growth in the job market, business confidence in future economic prospects has declined, while inflationary pressures persist.