Eurozone: Focus on PMIs – Danske Bank

Analysts at Danske Bank, suggest that in the euro area, PMIs are released and will be a key economic release for today’s session.

Key Quotes

“Manufacturing PMI has been on a rising trend since August 2016, getting close to the post-financial crisis peak of 59.0 in February 2011. In October, we expect manufacturing PMI to remain around the current level of 58.1, as the stronger euro may have started to affect new export orders adversely. After four straight months of decline, services PMI recovered in September to 55.8 and we believe services PMI will increase further in October to 56.2. Overall, the high PMIs support our expectation of robust growth for H2 in the euro area.”