Eurozone: Spain/Italy PMIs in focus this week – RBC CM

Research Team at RBC Capital Markets, suggests that the release of Spanish and Italian PMIs will keep investors engaged this week.

Key Quotes

“The headline composite Spanish and Italian PMIs gradually weakened over the summer months. For both that deterioration was largely attributable to weaker readings for the manufacturing PMIs with services PMIs performing somewhat better. This month, however, we expect the manufacturing print for both to remain largely unchanged with the service sector print to weaken. As result we see the composite falling back in both; to 52.4 in Spain, reflecting a slowing of the economy in Q3, and 51.6 in Italy.”