Euro area flash composite PMI to decrease to 53.8 in September – Nomura

Analysts at Nomura expect the euro area flash composite PMI for September to decrease to 53.8 from 54.1 in August.

Key Quotes

“At the sector level, we expect the regional manufacturing PMI to drop to 53.0 from 53.3 and the services PMI to fall to 54.4 from 54.7. Concerns about escalation of the global trade disputes are still weighing on the region’s manufacturing sector, and heightened market volatility may put a downward pressure on the service sector.”

“Our September flash PMI forecast is consistent with euro area GDP growth of around 0.3% q-o-q in Q3 2018.”