020 7898 0500After what was a quiet Thursday, the eurozone’s economic data schedule was much busier on Friday. Composite and services PMI from Germany and the eurozone was faintly disappointing, with all releases (with the exception of eurozone composite PMI) coming in below expectations. In Germany, the figures were 55 and 54.1 respectively against expectations of 55.2 and 54.4, while in the eurozone, the figures were 54.3 and 54.2 against expectations of 54.3 and 54.5.
Retail sales came in below forecast too, growing by 1.2% year-on-year in June against a forecast of 1.4%, while month-over-month, sales grew by 0.3% when 0.4% had been forecast by the markets.
Today we have factory orders and construction PMI from Germany and we will also see retail PMI from the eurozone. Tomorrow is a busy day, with the balance of trade and industrial production figures from Germany.
