Focus will be on global PMIs. We expect the Spanish and Italian flash PMI manufacturing figures to increase and continue to point towards recovery in the periphery. The Spanish increase should be the biggest reflecting upside risk to growth. In the UK PMI surveys will give evidence to whether activity keeps accelerating in Q4.
In the US we expect ISM manufacturing to decline but less than consensus expects. There has been a gap between the ISM manufacturing index and the manufacturing production suggesting ISM should come down. Additionally, the order-inventory balance has declined lately.
The ECB's vice president Constancio speaks today. Last week he said any decision on negative deposit rates would be taken with great caution and only in quite extreme situations. Today's speech is at a conference about the future of banking in Europe, and he is not expected to elaborate further on his view on negative deposit rates.
Swedish and Norwegian PMI data are the main releases in the Scandi region today.
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Danske Daily: Focus Is On Global PMI's
Published 12/02/2013, 06:46 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: Focus Is On Global PMI's
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