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Eurozone Seen Chugging Along According to PMIs

Business activity in the euro zone during October was not as robust as first thought, a survey showed on Friday, adding to signs the bloc’s recovery remains on track but is struggling to gain momentum.

For the second month running, firms held prices steady despite costs rising at the steepest rate since July 2015, indicating companies’ pricing power remained muted and that the European Central Bank might have to do more to drive up inflation.

Markit’s final composite Purchasing Managers’ Index for the euro zone was 53.3 in October, below a 53.7 flash estimate but beating September’s 52.6 and its highest since January.

Reuters [1]

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This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam [8]

Senior Market Analyst, UK & EMEA at OANDA [9]
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
Craig Erlam
Craig Erlam

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