According to analysts at Danske Bank, in the euro area, today’s November PMIs will be keenly watched by markets after last month’s downside surprises and yesterday’s continued decline in November consumer confidence data.
Key Quotes
“Due to the still negative order-inventory balance, we see scope for another decline in manufacturing PMI to 51.5, but service PMI will probably be even more interesting, to see whether the weaker activity in October was of a temporary or more persistent nature.”
“We expect the former and hence see scope for a small rebound in service PMI to 54. German and French PMIs will also be released.”
Share
