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18 Sep 2015
Eurozone: Risks to PMI on the downside - TDS
FXStreet (Delhi) – Research Team at TDS, suggest that the forthcoming Eurozone PMI data are likely to fall in consensus with the estimates but the risks are clearly tilted towards the downside.
Key Quotes
“Euro Area Flash PMIs (Wed 23 Sep): The August PMIs held up surprisingly well given market volatility. We are in line with consensus in seeing French services up half a point and German manufacturing lower by half a point, but the risks to each are to the downside.”
“German data may have ignored Chinese data last month, but this may not be repeated entirely this month, with the ZEW showing expectations falling for a sixth month in a row. Meanwhile, the refugee crisis in Europe may have impacted French sentiment.”
Key Quotes
“Euro Area Flash PMIs (Wed 23 Sep): The August PMIs held up surprisingly well given market volatility. We are in line with consensus in seeing French services up half a point and German manufacturing lower by half a point, but the risks to each are to the downside.”
“German data may have ignored Chinese data last month, but this may not be repeated entirely this month, with the ZEW showing expectations falling for a sixth month in a row. Meanwhile, the refugee crisis in Europe may have impacted French sentiment.”