020 7898 0500It was a mixed bag of data from the eurozone on Friday as the purchasing managers index (PMI) hit the wires for the service and manufacturing sector. The manufacturing for the region was better than expected but services missed target. This meant that headline composite PMI read at 55.7, which was below economist forecasts of 56.6, signifying that the region did not expand as much as expected.
In the week ahead we have some key economic data for the region. Question marks exist on when the European Central Bank could start tapering quantitative easing. If we see a run of positive data the chances of this eventuality improve.
Today we have the all-important German IFO. This survey is highly respected by the markets due to its large sample size (7,000) and historic correlation with the German economy. It asks businesses to rate their business expectations for the next six months.
On Thursday and Friday we have the regions and overall inflation numbers. Finally, the retail sales for Germany hit the wires on Friday.
