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22 Feb 2016
Eurozone: Multitude of data releases to keep investors busy – Danske Bank
Research Team at Danske Bank, suggests that in the euro area we start the week with PMI figures for February on Monday, where the concern is whether the large decrease in January continues.
Key Quotes
“In general we expect the decline to continue, although at a slower pace and with regional differences. For the manufacturing PMIs, we look for the largest decline as the stronger euro is a headwind to exports. In this regard, we will especially keep an eye on the new orders component and see whether the large drop in January continues.
Regionally, the German manufacturing sector could be more affected through a greater sensitivity to China through exports, but on the other hand a solid domestic economy is pulling in the other direction.
In France, we expect to see quite a large decline as a weak domestic economy is also affecting the manufacturing sector negatively at the same time. Regarding service PMIs, we expect to see a smaller decline as the sub-component of future business expectations has increased lately, which could be due to a lower oil price on top of a solid domestic economy with a decreasing unemployment. Here we expect to see the same regional picture.”
Key Quotes
“In general we expect the decline to continue, although at a slower pace and with regional differences. For the manufacturing PMIs, we look for the largest decline as the stronger euro is a headwind to exports. In this regard, we will especially keep an eye on the new orders component and see whether the large drop in January continues.
Regionally, the German manufacturing sector could be more affected through a greater sensitivity to China through exports, but on the other hand a solid domestic economy is pulling in the other direction.
In France, we expect to see quite a large decline as a weak domestic economy is also affecting the manufacturing sector negatively at the same time. Regarding service PMIs, we expect to see a smaller decline as the sub-component of future business expectations has increased lately, which could be due to a lower oil price on top of a solid domestic economy with a decreasing unemployment. Here we expect to see the same regional picture.”