Eurozone Set To Accelerate In Q4

Business confidence indices for October released in the eurozone during the week strengthened our view that economic activity could accelerate in Q4.

The first positive indication came from preliminary PMI indices. With regard to the eurozone as a whole, the PMI manufacturing index rose from 52.6 to 53.3, beating market expectations for an increase to 52.7; the PMI services index from 52.2 to 53.5 (consensus 52.4) and the PMI composite index from 52.6 to 53.7 (consensus 52.8).

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