20 Jun 2014
Leaders Summit, sentiment indicators in focus in Europe next week - ING
FXStreet (Łódź) - The highlight next week in Europe will be the Leaders Summit, where the debate on who will take which job in the Commission will continue, the ING team of economists remark.
Key quotes
"Normally, leaders should use the summit to present a candidate for the presidency of the next European Commission. But recent comments from Germany’s vice chancellor, Sigmar Gabriel, suggest it is also likely that there will be another debate on fiscal rules and discipline and how these two can be combined with more economic growth."
"Next week’s dataflow in Europe, however, will be dominated by sentiment indicators."
"We suspect Eurozone PMI data will move lower, pointing to a slowdown in the pace of recovery."
"Similarly, after a very strong first quarter in Germany, next week’s PMI and IFO surveys are likely to suggest that growth has slowed in this quarter as the impact of several one-off events, such as the mild winter weather, has been reversed."
Key quotes
"Normally, leaders should use the summit to present a candidate for the presidency of the next European Commission. But recent comments from Germany’s vice chancellor, Sigmar Gabriel, suggest it is also likely that there will be another debate on fiscal rules and discipline and how these two can be combined with more economic growth."
"Next week’s dataflow in Europe, however, will be dominated by sentiment indicators."
"We suspect Eurozone PMI data will move lower, pointing to a slowdown in the pace of recovery."
"Similarly, after a very strong first quarter in Germany, next week’s PMI and IFO surveys are likely to suggest that growth has slowed in this quarter as the impact of several one-off events, such as the mild winter weather, has been reversed."