Euro area unemployment and UK manufacturing PMI in focus – Danske Bank

Research Team at Danske Bank, suggests that the Euro area unemployment and UK’s manufacturing PMI will be the key economic releases for today’s session.

Key Quotes

“In the euro area, the main release is the unemployment rate for October. The unemployment rate has plateaued at 10% since July, but we expect the October figure to fall to 9.9%, as latest survey indicators including the PMI employment index have remained strong. Data for the manufacturing PMIs for Spain and Italy for November is also due out. The latter will be of special interest, as the population's impression of economic conditions could influence their vote on the upcoming constitutional referendum on Sunday.”

“In the UK, the PMI manufacturing index for November is due to be released today. The index rebounded significantly after the Brexit vote, supported by the weaker GBP and higher global PMIs, and we expect PMI manufacturing to increase further to 55.0 for November (consensus: 54.4).”