Eurozone composite PMI still points to positive but moderate growth at about 0.1% in Q3. ECB staff projections has 0%... i.e. in line with expectations.
#dkøko#dkfinans#PMI#ECB
Manufacturing PMIs weakened in both EZ, France & Germany. After improving end '24 + first part of '25 year exports orders are falling back - most likely due to effect from tariffs. Still hard know what kind of underlying growth to expect. #dkøko#pmi#ECB
ECB staff forecast ses only small changes. We believe that this should lead ECB to lower rates... and expect a final cut in december. #ECB#dkøko#dkfinans
France will in 2 weeks have vote of confidence on the Bayrou-government after it suggested new public savings + cutting public holidays. French 10yr yields move up - closing in on Italy. Political instability and high deficits in France come at a cost #dkøko
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