In the view of the analysts at TD Securities, the German manufacturing sector activity could possibly see an upturn in September.
Key Quotes:
“While Germany’s manufacturing PMI has had a rough run this year, we think that the absence of trade war flare-ups over the last few weeks means that there’s probably scope for a short-term bounce.
We look for a rise to 44.2, which would make for a 3-month high, although that leaves us slightly less optimistic compared to consensus expectations of 44.5.
For France, the services PMI has been trending in the other direction, and hit a 9-month high in August. We look for a small pull-back to 53.1, essentially in line with consensus.”
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