Euro area and US PMI figures in focus today – Danske Bank

Research Team at Danske Bank, suggests that overall, they believe that PMI figures for the euro area for September due for release today will show a moderate improvement, reflecting an ongoing recovery.

Key Quotes

“The order-inventory balance for the manufacturing PMI showed a promising increase in August, signalling an increase in manufacturing PMI in September despite a moderate decline in figures for August. However, we believe services PMIs have a more sluggish outlook for September.

In the US, Markit and ISM PMIs declined in August but are sending mixed signals on the manufacturing sector. Most notably, the ISM index declined 3.2 index points and is now back below the 50 threshold again, suggesting a contraction in the manufacturing sector. We estimate the Markit PMI manufacturing index declined to 50.5 in September.

Iran and Saudi Arabia are set to continue talks in Vienna. The two are trying to work out their differences in order for OPEC and Russia along with possibly also other major oil producing countries to agree on a strategy to stabilise the oil market next week in Algiers.”