We got PMIs out of Europe during the, errrr, Europe timezone:
- Eurozone Markit mftg PMI Nov flash 52.8 vs 52.3 exp
- Germany Markit mftg PMI Nov flash 52.6 vs 52.0 exp
- France Markit mftg PMI Nov flash 50.8 vs 50.8 exp
So, just ICYMI (or them) ...
- Composite purchasing managers index gained to 54.4 in November (53.9 in October)
- Highest since May 2011
- Survey of 5000 firms
- New orders at their highest since mid-2011, as is 'new hiring'
The data is suggestive of the eurozone economy gaining fresh momentum after its Q3 slowdown
- Care will need to be taken, though, with the heightened security concerns after the cowardly murders in Paris. This could impact on consumer and business confidence, as well as impacting on free movement of people and trade in the region.
- Inflation measures stayed on the soft side
if you want even more ... DJ/Market Watch link
And ... Improvement in the manufacturing and services sectors could see Draghi holding back on extra QE
