24 Jul 2014
EMU PMI figures comforting but sustained recovery still not assured– ING
FXStreet (Łódź) - According to Peter Vanden Houte from ING, the better than expected Eurozone PMI numbers for July point to some underlying momentum in the economic recovery in the area.
Key quotes
“That said, one mustn’t forget that the European recovery has been based until now on external demand and a confidence based improvement in domestic demand.”
“However, with the mounting geopolitical unrest hurting both consumer and business sentiment in Europe and potential economic sanctions slowing exports, there is no reason to become overly optimistic either.”
“The fall in consumer confidence in July was already a first warning sign that a self-sustaining recovery is still not assured.”
“While today’s figures are comforting, it’s too soon to say that the ‘patient’ may already leave intensive care.”
Key quotes
“That said, one mustn’t forget that the European recovery has been based until now on external demand and a confidence based improvement in domestic demand.”
“However, with the mounting geopolitical unrest hurting both consumer and business sentiment in Europe and potential economic sanctions slowing exports, there is no reason to become overly optimistic either.”
“The fall in consumer confidence in July was already a first warning sign that a self-sustaining recovery is still not assured.”
“While today’s figures are comforting, it’s too soon to say that the ‘patient’ may already leave intensive care.”