Euro area PMIs and consumer confidence in focus – Danske Bank

Research Team at Danske Bank, suggests that in the euro area, the week starts with consumer confidence figures for August on Tuesday.

Key Quotes

“We think consumer sentiment was negatively affected by the rising oil price throughout the beginning of August and the post-Brexit vote uncertainty, although this is diminishing. However, in our view, the continued solid labour market conditions and resilient business sentiment are likely to pull consumer confidence upwards slightly.

Euro area PMI figures for August are also due for release. The figures showed resilience to the Brexit vote in July, with only a small decline. Looking at the August figure, the ZEW investor expectation survey showed a small improvement in line with the overall market sentiment and we therefore expect the PMI to remain around its July level in August.”