Analysts at TD Securities point out that the Eurozone flash PMIs are released for January and in spite of the ongoing challenges relating to the auto industry and trade uncertainties, they believe that short-term factors weighed on activity in late-2018, but that these have partially unwind.
Key Quotes
“We therefore see the German Manufacturing PMI to rebound modestly to 51.8 (mkt: 51.5). For French Services, the “gilet jaunes” protests that cut activity sharply in December have settled down significantly, and we therefore expect activity to move back into expansion territory, to 52.0 (mkt: 50.5).”
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