Eurozone: Focus on PMI data – Danske Bank

Analysts at Danske Bank point out that today the focus will remain on Eurozone flash euro area PMI for June and it will be interesting to see if there is any effect of the recent deterioration on the trade front.

Key Quotes

“The data is typically collected from the 12-21 in the month. Manufacturing PMI has fallen for five consecutive months and after peaking at 60.6 in December 2017, it fell to 55.5 in May 2018. We expect a further fall to 54.8 in June.”

“Service PMI has seen a similar development, declining from 58.0 in January to 53.8 in May. We expect service PMI to fall to 53.7 in June from 53.8 in May.”