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Eurozone PMIs soft across the board - Deutsche Bank

FXStreet (Łódź) - Jim Reid from Deutsche Bank comments on the Eurozone PMI numbers released this week, suggesting that the weak results point to a slow, uneven and fragile recovery in the area.

Key quotes

"Our European economists noted these readings are consistent with a modest revival of the recovery after euro-area GDP stalled in Q2."

"The PMIs imply a +0.3% qoq pace of GDP growth in Q3 and marginally slower in Q4 if PMIs remain unchanged at September's level."

"This would be not fast enough to close the significant negative output gap."

"The ECB will likely have to be very aggressive to combat persistent downward pressure on inflation."

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