In the euro area manufacturing PMIs are due for release and the first estimate of theSpanish and Italian figure will attract most attention. The flash estimate for the euroarea and the data released for other countries suggest a slight decline in both countriesbut still point to higher economic growth.
Unemployment figures for the euro area and Germany are also due for release. Weexpect both figures to remain unchanged, although the increase in the euro-areaunemployment rate has been reversed helped by the periphery countries.
In the US ISM manufacturing will give more insight into whether there is a biggerinventory issue or whether businesses keep producing in the faith that growth willpick up again in the coming months. ISM manufacturing is at a level that to someextent reflects the softness in demand in early 2014. Today we look for a slight rise inISM manufacturing.
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Danske Bank