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Euro PMIs declined again in November – Danske

FXStreet (Barcelona) - The Danske Bank Research Team notes that the euro flash PMIs declined in November indicating a declining trend in euro-area activity.

Key Quotes

“The composite PMI new orders declined to 49.9 and went below 50 for the first time since June 2013.”

“Interestingly, the euro PMI manufacturing only declined to 50.2 in November from 50.4 in October, whereas the German manufacturing PMI declined 1.4 index points and the French one was 0.9 index points lower. This suggests an increase in the manufacturing PMIs in the periphery countries of around 1.2 index point in each country.”

“In 2015 we look for stabilisation in euro-area activity before the recovery should gain further momentum, as headwinds from credit tightening are fading.”

“Private consumption is still doing well, supported by higher wage growth. This should eventually have a positive effect on companies, which is also supported by the weaker euro.”

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