EC Business and Consumer Surveys likely to highlight deterioration – Capital Economics
FXstreet.com (Barcelona) - Ben May of Capital Economics believes that tomorrow's EC Business and Consumer Surveys at 10:00 GMT are likely to provide further evidence that the European economy has continued to loose momentum.
He notes that the flash Eurozone Consumer Confidence release revealed that household sentiment fell in November, more than reversing the previous month's fall. He writes, "Meanwhile, the drop in the forward-looking components of the euro-zone service sector PMI in November suggests that the EC equivalent may decline." He feels that the headline composite Economic Sentiment Indicator can fall from 84.5 to 84 or so which would leave the index pointing to annual falls in Eurozone GDP of about 2.5%.
He notes that the flash Eurozone Consumer Confidence release revealed that household sentiment fell in November, more than reversing the previous month's fall. He writes, "Meanwhile, the drop in the forward-looking components of the euro-zone service sector PMI in November suggests that the EC equivalent may decline." He feels that the headline composite Economic Sentiment Indicator can fall from 84.5 to 84 or so which would leave the index pointing to annual falls in Eurozone GDP of about 2.5%.
Free Annual Reports
