Market Insights

Market Information Tuesday 2 April 2024

The Dutch industry showed a less pronounced contraction in March, according to figures from Nevi and S&P Global, as the purchasing managers’ index rose from 49.3 in February to 49.7 in March, indicating the smallest decline in 17 months. A reading below 50 refers to a contraction. Nevi noted that production increased for the first time in over a year, along with a rise in new orders for the first time in 20 months. This, combined with a second consecutive month of job growth, brought the PMI headline index closer to the breakeven point of 50.0, signalling growth.

In March, the American manufacturing industry grew for the first time since September 2022, driven by a sharp recovery in production and increased demand, despite rising import costs. The Institute of Supply Management’s leading index rose 2.5 points to 50.3, indicating expansion compared to the previous month after sixteen months of contraction. Production rebounded significantly from the previous month, with the strongest growth since June 2022.

France aims to attract high-tech companies, particularly in semiconductors and artificial intelligence, supported by low energy rates and favourable transportation connections. The focus on technology sets France apart positively in the competition with other European countries, as evidenced by the number of foreign investment projects it attracted in 2022, which increased by 3% compared to the previous year.

The 6M Euribor decreased with 1 basis point to 3.85% compared to previous business day. The 10Y Swap is unchanged at 2.58% compared to previous business day.

In the attachment, today’s market data on money and capital market rates as well as other rates are presented.

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