There are other sentiment and economic strength indices in addition to the PMI indices from S&P Global! One of these in the Euro Zone and some of its member countries are the ZEW indices:
The ZEW Indicator of Economic Sentiment is a simple sentiment indicator created out of the monthly ZEW Financial Market Survey. The ZEW Financial Market Survey is an aggregation of the sentiments of approximately 350 economists and analysts on the economic future of Germany in the medium term. ZEW stands for Zentrum für Europäische Wirtschaftsforschung, which translates to the Center for European Economic Research. [Source: Investopedia]
The ZEW Sentiment Index has a reliable six-month lead on economic activity; the PMI index is intended to measure current economic activity rather than future activity, and they survey industry rather than economists.
The ZEW index fell again in July. (The PMI is only up to June) Note how it also spiked over the early months of this year, and has been retreating since.
As usual, you might get a clearer picture if you click on it. Don't ask me why Blogger does it this way.
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