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Euro area: The sky is the limit

Summary:
The latest flash purchasing managers index surveys showed robust momentum for the euro area. We maintain our GDP growth forecast of 2.3% for 2017.Flash purchasing managers’ indices (PMIs) for the euro area ended the year on a strong note. The composite PMI increased to 58.0 in December, from 57.5 in November, above consensus expectations (57.2).The robust momentum was led by a booming manufacturing sector, while services sentiment also improved.The breakdown by sub-indices was pretty strong, with new orders and output rising strongly across both sectors.Overall, today’s PMIs point to further acceleration in euro area growth at the end of the year. We maintain our GDP growth forecast unchanged at 2.3% in 2017 and 2.3% in 2018.Read full report here

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The latest flash purchasing managers index surveys showed robust momentum for the euro area. We maintain our GDP growth forecast of 2.3% for 2017.

Euro area: The sky is the limit

Flash purchasing managers’ indices (PMIs) for the euro area ended the year on a strong note. The composite PMI increased to 58.0 in December, from 57.5 in November, above consensus expectations (57.2).

The robust momentum was led by a booming manufacturing sector, while services sentiment also improved.

The breakdown by sub-indices was pretty strong, with new orders and output rising strongly across both sectors.

Overall, today’s PMIs point to further acceleration in euro area growth at the end of the year. We maintain our GDP growth forecast unchanged at 2.3% in 2017 and 2.3% in 2018.

Nadia Gharbi
Nadia Gharbi is economist at Pictet Wealth Management. She graduates in Université de Genève, Les Acacias, Canton of Geneva, Switzerland Do not hesitate to contact Pictet for an investment proposal. Do not hesitate to contact Pictet for an investment proposal. Please contact Zurich Office, the Geneva Office or one of 26 other offices world-wide.

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