Eurozone: Focus on flash PMIs – Danske Bank

Euro Flash PMI are due for release and will be the key economic release for today’s session, according to analysts at Danske Bank.

Key Quotes

“After a 10-month streak of rising manufacturing PMI in the euro area, we saw a decline from 57.4 in June to 56.6 in July. We saw declines in both activity and the leading order-inventory indicator. The appreciating euro is also likely to become a headwind for export orders, so we estimate manufacturing PMI has fallen to 56.2. Services PMI remained at 55.4 between June and July but has also started to show some exhaustion since April. While we expect services PMI to show a small decline to 55.2, we emphasise that PMIs remain at very strong levels, still pointing towards solid growth in Q3.”