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Eurozone revisions ratio suggests positive PMI surprise

Posted on Tuesday, February 21, 2012 at 04:46PM by Registered CommenterSimon Ward | CommentsPost a Comment

As previously discussed, the key purchasing managers’ manufacturing new orders indices correlate well with “revisions ratios” of equity analysts – the net proportion of company earnings estimates revised higher each month. February ratios suggest that new orders will top out soon in the US (consistent with evidence presented in yesterday’s post) but continue to recover solidly in Euroland – the “flash” PMIs are released tomorrow.

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